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CITY OF COLTON <br />AGENDA REPORT <br />For City Council Meeting of DECEMBER 1, 1998 <br />TO: HONORABLE MAYOR & CITY COU <br />APPROVAL: HENRY GARCIA, CITY MANAGER <br />FROM: JOHN C. HUTTON PUBLIC WORKS DIRECTOR!. ;Wr <br />SUBJECT: APPROVAL OF TRAFFIC FEE AGREEMENT FOR TOYON, LLC, <br />1150 NORTH MT. VERNON AVENUE <br />DATE: NOVEMBER 19, 1998 <br />BACKGROUND: <br />Toyon, LLC are the present owners of the property located at 1150 North Mt. Vernon Avenue. <br />Toyon caused the construction of a new structure upon that property, creating additional traffic <br />impacts. Ordinance 0-18-88 requires a Development Impact Fee for all new construction. <br />Resolution R-92-93 established the amount of that fee based upon building size and land use. <br />The proposed use of this building is unknown, due to the merger of the proposed tenant with a <br />larger company. <br />DISCUSSION/ANALYSIS: <br />The attached agreement safeguards the collection of the Traffic Impact Fee, which will be <br />determined at the time of occupancy. This agreement allows the owner to obtain a Certificate <br />of Occupancy, which will allow the building to be leased. <br />FINANCIAL IMPACT: <br />None. <br />ENVIRONMENTAL IMPACT: <br />None <br />RECOMMENDATION: <br />Staff recommends that Council approve the attached agreement and authorize recordation. <br />JCH/bjw <br />Attachment: Agreement <br />Item No. 7 <br />Page 1 Of 1 <br />