REPORT TO THE CITY COUNCIL
FROM: SCOTT MOZIER, PE, Director
Public Works Department
BY: HARMANJIT DHALIWAL, PE, Assistant Director
Public Works Department, High-Speed Rail and Special Projects Division
SUBJECT
Title
Approve an Infrastructure Reimbursement Agreement between the City of Fresno and Fancher Creek Town Center, LLC, in the amount not to exceed $3,500,000 for the construction of certain public improvements associated with the Fancher Creek Town Center Project. (Council District 5)
Body
RECOMMENDATION
Staff recommends that the City Council approve an Infrastructure Reimbursement Agreement between the City of Fresno and Fancher Creek Town Center, LLC for the construction of certain public improvements associated with the Fancher Creek Town Center Project as required by the Development Agreement between the City of Fresno and Fancher Creek Properties, LLC.
EXECUTIVE SUMMARY
The City of Fresno (City) entered into a Development Agreement with Fancher Creek Properties, LLC the sole member of Fancher Creek Town Center, LLC (Developer) in July 21, 2010. The Developer is responsible for financing the construction of all public improvements and will only receive reimbursements or credits from the City for certain public improvements to the extent they are expressly provided in Exhibit F of the Development Agreement. The Development Agreement requires the developer to construct certain public improvements including dual southbound left turn lanes at the intersection of Clovis Avenue and Tulare Street (Signal) and trail improvements along both Clovis Avenue and Tulare Street (Trail). The Development Agreement also allows the Developer to receive dollar-for-dollar credit for eligible costs for a park construction (Park). Staff recommends that the City Council approve an Infrastructure Reimbursement Agreement for the construction of the signal, trail, and park improvements.
BACKGROUND
The Fancher Creek Town Center Project was described as a mixed use...
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