Laserfiche WebLink
ENVIRONMENTAL IMPACT <br />As reported in the Agenda for the City Council Meeting of May 7, 2002, all items relating to the <br />Environmental Lnpact Report and the requirements of CEQA haue been satisfied for this Project. <br />FINANCIAL/FISCAL IMPACT <br />The offers of dedication aze made to the Ciry of Colton by the owners of the property, East Valley <br />Land Development, LLC, included in and adjacent to the proposed E.D.A. Project No. 07-01- <br />OSI32: Construction of Infrastructure Improvements to Serve the Cooley Ranch Area at no cost to <br />the Ciry of Colton. <br />EDA requires that the $1 million grant be matched with local agency funds of at least $13 million. <br />The Redevelop�nt Agency for the City of Colton will be satisfying this obligation with a loan <br />from the California lnfrastructure and Economic Development Bank (CIEDB), which was approved <br />by the CIEDB on April 30, 2002. <br />The CIEDB L.oan is a 20.year loan at 334% interest and is secured by the Cooley Ranch Project <br />Area Tax Increment. <br />Staff respectfully recommends that Council accept, on behalF of the Ciry of Colton, the Offers of <br />Dedication as presented. <br />Staff also respectfully recommends the Dedication Plats be duly submitted to the San Bernardino <br />County Recorder's Office for official recordation. <br />Attachment: Etchibit "A-1 through A-15" Dedication Plats <br />Report prepazed by Dusty Dappen, Engineering Tech II. <br />TEAM ONLY <br />Attorney: <br />City Manager: <br />Finance Director•_ <br />OTHER: L�L�S <br />