Development Impact Fees Agreement with John Reichel (dba Sunwest Enterprises)

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REQUEST FOR FEE CREDITSMAIVERS SUNWEST ENTERPRISES (Traffic Impact Fees) This formula results in a fee levy of $20,574 for the commercial site and the 26 proposed residential units. The estimated fee under the City's current traffic impact fee schedule is $265,386 (with 6 residential units calculated at $266.50). This results in a fee credit of $244,812. Attorney Review The City Attorney has reviewed this report and recommendation and concurs that the evidence supports a finding for waiver as provided for in Ordinance 0-02-00 and that a Resolution making such findings is warranted for City Council consideration. Staff Recommendation Find: 1. That the traffic impact fees be assessed based upon the Developer's, requested computation using $266.50 per residential unit and $1,066 per commercial acre within CFD 89-2. 2. That the City deny the request to allocate CFD 89-2 funds for the completion of any additional street improvements at this time or to provide any in -lieu consideration. Attached as Exhibit G is correspondence indicating that these segments appear to have been deleted from the CFD Program by mutual agreement. Staff has been unable to establish that funds budgeted for street improvements remain on deposit with the Trustee as part of the $700,000 balance. JOVItton, Public Works Director Ad Hoc Committee Recommendation The Ad Hoc Copimittee considered the request on January 31, 2001, February 13, 2001, and February 2 2001. The Committee recommended that the Developer receive consideration for the two incomplete segments of street improvements originally included in CFD 89-2. Rather than allocate CFD 89-2 bond funds, the Committee recommended an offset against traffic impact fees due on certain properties approximating the cost to construct these remaining segments. By application of the formula for traffic impact fees, the remaining traffic impact fees to be paid by the Developer on the four subject properties is as follows: Page 6 of 7 Normally Approved Formula Fees (2) Required Fees in Fees out Prior Remaining Fees Prope Fees 1 CFD 89-2 CFD 89-2 Satisified Fees (3) to be Paid (4) Tract 16025 $ 36,379 $ 1,599 $ 34,780 $ - $ 36,379 Tract 15873 $ 18,800 $ - $ 18,800 $ - $ 18,800 12.8 acre site $ 232,397 $ 13,645 $ - $ 218,752 $ 13,645 4.2 acre site $ 18,800 $ 5,330 $ - $ 13,470 $ 5,330 $ 306,376 $ 20,574 $ 53,580 $232,222 $ 74,154 Page 6 of 7