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City Council Regular
AGREEMENT WITH TURNER CHINO HILLS, LLC FOR REIMBURSEMENT OF IMPROVEMENTS AT WEST MONTE VISTA AVENUE AND CHINO HILLS PARKWAY
Authorize execution of the Agreement with Turner Chino Hills, LLC for Reimbursement of Improvements at West Monte Vista Avenue and Chino Hills Parkway in the amount of $99,608.64.
Approve an appropriations budget amendment in the amount of $99,609 from the Traffic Signal Fee Fund unreserved fund balance for reimbursement to Turner Chino Hills, LLC.
On January 13, 2015, the City Council of Chino Hills approved Tentative Parcel Map No. 19539, Turner Chino Hills, LLC’s (Turner) “Fairfield” project. Turner was required to install a traffic signal at the intersection of Monte Vista Avenue and Chino Hills Parkway. Turner completed the installation of the traffic signal on or around December 13, 2016.
On January 10, 2006, the B.A.P.S. Temple and Cultural Center (B.A.P.S.) deposited $67,200.00 in traffic fair share fees. On April 6, 2006, B.A.P.S. deposited the remaining $12,109.00 in traffic fair share fees owed to the City of Chino Hills bringing the total deposit amount to $79,309.00. The deposited $79,309.00 has earned approximately $20,299.64 in interest for a total of $99,608.64.
Condition of Approval Number 104 for Turner stipulates that Turner shall be reimbursed from any previous funds contributed to the traffic signal. Since the traffic signal was completed, the Agreement requires the City to reimburse Turner in the amount of $99,608.64, the B.A.P.S. fair share amount and interest. In the Agreement, Turner acknowledges that this payment completely fulfills B.A.P.S.’s and Chino Hills’ fair share cost of the installation of the traffic signal, except that if the Newcastle property pays a fair share to the City, then such amount will also be owed by the City to Turner as fair share reimbursement for constructing the traffic signal.
ENVIRONMENTAL (CEQA) REVIEW:
This project is a necessarily included element of the project considered in the Mitigated Negative Declaration (MND) adopted by the City Council for the Fairfield project. No substantial changes have been made in the project, no substantial changes in the circumstances under which the project is being undertaken and no new information of substantial importance to the project which was not known or could not have been known when the MND was adopted have become known. Therefore, no further environmental review is required.
Staff is requesting an appropriations budget amendment for the reimbursement to the developer. The proposed amendment will decrease the unreserved fund balance in the Traffic Signal Fee Fund by $99,609. This action has no impact to the General Fund.
REVIEWED BY OTHERS:
This item has been reviewed by the City Attorney and the Finance Director.
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