2003 AGN MAY 06 I14 - Laserfiche WebLink

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Item #14 CITY OF COLTON AGENDA REPORT FOR THE CITY COUNCIL MEETING OF MAY 6, 2003 TO: HONORABLE MAYOR AND CITY COUNCIL MEMBERS FROM: AMER JAKHER, P.E., CITY ENGINEER SUBJECT: APPROVE AGREEMENT WITH SOUTHERN CALIFORNIA GAS COMPANY FOR INSTALLATION OF A 4" GAS MAIN, EDA PROJECT NO. 07-01-05132 TO SERVE THE COOLEY RANCH DATE: APRIL 28, 2003 BACKGROUND: On August 13, 1998, the City Council and Redevelopment Agency jointly approved a Participation Agreement with East Valley Land Company (City Resolution R-79-98 and Agency Resolution No. 723) for the development of a 75 -acre property in the Cooley Ranch Project Area. That agreement obligated the Agency and City to make certain contributions toward the cost of public improvements related to the development of the site. On June 19, 2001 the Agency approved Resolution 779 and on July 17, 2001 the City Council approved Resolution R-57-0, approving Amendment No. 1 to the agreement; Amendment No. 1 redefined the public improvements. On December 4, 2001, the City Council approved Resolution R-125-01 and the Agency approved Resolution No. 793, approving Amendment No. 2 to the agreement. Amendment No. 2 addressed the changes to the overall project and established three financing alternatives for the public improvements. Attachment No. 7 to the agreement outlines the financing alternatives and is attached hereto as Attachment "A." As described in Attachment No. 7, the City and Agency were successful in obtaining a $1,000,000 grant from the United States Economic Development Administration (EDA) and on April 30, 2002, a $2,000,000 loan from the California Infrastructure and Economic Development Bank (CIEDB) to support the Agency Financing Alternative No. 1. The CIEDB loan will be repaid from Cooley Ranch Redevelopment Project Area tax increment over a period of (30) years. ANALYSIS/DISCUSSION: The construction phase of EDA PROJECT NO. 07-01-05132 (CONSTRUCTION OF INFRASTRUCTURE IMPROVEMENTS TO SERVE THE COOLEY RANCH AREA) commenced February 24, 2003 and all of the underground utilities have been laid out onsite with the exception of the gas line. In an effort to avoid any future excavation after the paving of all the streets and