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Home My WebLink AboutSEACLIFF PARTNERS - 1996-02-20 CITY OF HUNTINGTON BEAD, )a �� C( ��, Pf MEETING DATE: May 7, 2001 DEPARTME UMBER: PVV 01-049 M Mtw Council/Agency Meeting Held: o1 - 01-d) Deferred/Continued to: A proved ❑ Conditionally Approved ❑ Denied 1-Chytlerk ignature Council Meeting Date: May 7, 2001 Department ID Number: PW 01--CL49 N O � CITY OF HUNTINGTON BEACH REQUEST FOR COUNCIL ACTION f,.j oy_- Z--<� cry o SUBMITTED TO: HONORABLE MAYOR AND CITY COUNCIL MEMBERS -D N n S SUBMITTED BY: RAY SILVER, City Administrator4r,J � b.,:PREPARED 13 OBERT F. BEARDSLEY, Director of Public Works + A SUBJECT: Approve Reimbursement of Traffic Impact Fees to PLC Statement of Issue,Funding Source,Recommended Action,Alternative Action(s),Analysis,Environmental Status,Attachments) Statement of Issue: Should the City reimburse PLC Land Company for the actual costs of designing street improvements to Ellis Avenue between Edwards Street and Goldenwest Street as required by agreements between the parties? Fundinq Source: Unappropriated Traffic Impact Fee Fund totaling $35,844.80. Recommended Action: Authorize the Director of Administrative Services to appropriate $35,844.80 from the Traffic Impact Fee Fund and reimburse PLC Land Company for actual costs of design and construction for street improvements to Ellis Avenue. Alternative Action(s): Do not reimburse PLC Land Company at this time, and budget the expense in FY 2001/02 budget. This action will cause interest payments to accrue. Analysis: By the terms of the Holly Seacliff Development Agreement No 90-1 dated November 5, 1990, Developer PLC Land Company is obligated to construct certain offsite arterial highway improvements to Seapointe Street, Edwards Street and Ellis Avenue for the benefit of the City. The Development Agreement and the February 20, 1996 Traffic Fee Credit and Reimbursement Agreement (TFCRA) provide that the Developer's actual costs for these improvements are to be reimbursed by the City, either through credits against Traffic Impact Fees payable from development in the Holly Seacliff Area, or from the City's Traffic Impact Fee Fund. 01-049 May 7 Crosby -2- 4/25/01 1:18 PM %QUEST FOR COUNCIL AC*N MEETING DATE: May 7, 2001 DEPARTMENT ID NUMBER: PW 01-049 PLC Land Company has completed preparation of plans and specifications for improvement on Ellis Avenue. The Developer's current verified actual cost for design and construction of improvements covered by the Development Agreement totals $2,595,250.84. Of this amount, $2,559,406.04 has been reimbursed through traffic impact fee credits. As of March 31, 2001, a balance of $35,844.80 is owed to PLC Land Company. The agreements provided that the balance of any amounts due to the Developer is subject to an annual adjustment (interest) based on changes in the Engineering News Record construction cost index. PLC Land Company has no additional developments planned within the Holly Seacliff area for which reimbursement through additional Traffic Impact Fee credits is expected. PLC is ready to begin construction of improvements to the north half of Ellis Avenue between Edwards and Goldenwest Streets, as soon as oil lines have been relocated by John A. Thomas. Street widening work is expected to begin in June and be completed in three months. These construction costs will also be 100 percent reimbursable. For these reasons, and to avoid additional interest payments, staff is recommending payment of the current balance of $35,844.80 to PLC Land Company at this time. Environmental Status: Not applicable. Attachment(s): City Clerk's • . . - Number No. Description 1 Traffic Impact Fee Reimbursement Verification 2 Fiscal Impact Statement (Traffic Impact Fee Fund) RCA Author: Bruce Crosby 01-049 May 7 Crosby -3- 4125/01 1:18 PM ATTACHMENT 1 CITY tF HUNTINGTOI BEACH 2000 Main Street P . O . Box 190 California 92648 Robert F. Beardsley, P.E. Department of Public Works Director (714) 536-5431 March 13, 2001 i William D. Holman PLC Land Company 23 Corporate Plaza, Suite 250 Newport Beach, California 92660 Subject: PLC Traffic Impact Fees-2001 ENR Adjustment Dear Mr. Holman: Per your request, I have made the 2001 ENR Adjustment in the amount of $645.70. The new balance is $35,844.80. i We have not yet collected the Traffic Impact Fees for Tract No. 14321 (Sassounian F Island). In addition, our records indicate that we have collected, for the Seacliff Shopping Center, a total of $228,401.00. 1 will contact you latter regarding reimbursement. If you have any questions, please call me at 714-536-5630. Si cerely, Bruce P. Crosby Civil Engineer Assistant BPC:ll I c: Dave Webb, City Engineer Gail Pickart, Consulting Civil Engineer Terri Elliott, Associate Civil Engineer ' f { 1 i G:Eng\Crosby\TIF Letters\PLC ($eacliff) P mc N February 28, 2001 Mr. Bruce Crosby Public Works Department 2000 Main Street Huntington Beach, CA 92648 Subject: PLC Traffic Impact Fees—2001 ENR Adjustment Dear Bruce: On February 1-0, 2001, PLC's balance of traffic impact fee credits was adjusted as follows: February 20, 2001 Balance $35,199.10 Adjustment 645.70 New Balance $35,844.80 The adjustment reflects a 1.83% increase in the Engineering News Record Construction Cost Index from February 2000 to February 2001. Copies of the ENR index and a revised account balance sheet are enclosed for your files. I believe the City should have collected traffic impact fees for Tract 14321 (Sassounian F Island) and the Seacliff Village shopping center by now, which are payable to PLC. Would you please advise me on the status of these fees and reimbursement to PLC? Thank you for your continued oversight of these expenditures and credits. Very truly yours, William D. Holman Planning & Government Relations Enclosures cc: . Ray Silver, City Administrator Robert Beardsley, Public Works Director Dave Webb, City Engineer Mary Beth Broeren, Senior Planner Graham Jones 19 Corporate Plaza Drive 949.721.9777 Telephone PLC Land Company Newport Beach, California 92660 949.729.1214 Facsirnile ATTACHMENT 2 ; CITY OF HUNTINGTON BEACH INTERDEPARTMENTAL COMMUNICA TION To: Ray Silver, City Administrator From: Clay Markin, Director of Administrative Services Subject: FIS 2001-37 Approve Reimbursement of Traffic Fees to PLC Date: April 25, 2001 As required by Resolution 4832, this Fiscal Impact Statement has been prepared for "Approve Reimbursement of Traffic Fees to PLC." If the City Council approves this request (total appropriation $35,845) the estimated unreserved Traffic Impact Fee Fund balance at Septemb 30, 2001 will be reduced to $1 ,213,000. Clay M n, Direc or of Administrative Services RCA ROUTING SHEET INITIATING DEPARTMENT: Public Works SUBJECT: Approve PLC Traffic Impact Fee Reimbursement COUNCIL MEETING DATE: May 7, 2001 :RCA:ATTACHMENTS :::..... .: STATUS: Ordinance (w/exhibits & legislative draft if applicable) Not Applicable Resolution (wlexhibits & legislative draft if applicable) Not Applicable Tract Map, Location Map and/or other Exhibits Not Applicable Contract/Agreement (wlexhibits if applicable) (Signed in full by the Cif Attome Not Applicable Subleases, Third Party Agreements, etc. LApproved as to form by City AttorneyNot Applicable Certificates of Insurance (Approved by the City Attorney) Not Applicable .Financial Impact Statement Unbud et, over $5,000 Attached Bonds (If applicable) Not Applicable Staff Report (if applicable) Not Applicable Commission, Board or Committee Report (If applicable) Not Applicable Findings/Conditions for Approval and/or Denial Not Applicable EXPLANATION FOR MISSING ATTACHMENTS REVIEWED' RETURNED . .. FORWARDED Administrative Staff Assistant City Administrator Initial City Administrator (Initial) City Clerk . EXPLANATION'FOR..RETURN OF ITEM: SpaceOnly) RCA Author: Bruce Crosby:jm R.R"MSS),y , Df W Council/Agency Meeting Held: -21 —G Deferred/Continued to: Approved 0 Conditionally Approved ❑ Denied _ W-City C er 's Signature ouncil Meeting Date: August 21, 2000 Department ID Number: PW-00-086 CITY OF HUNTINGTON BEACH REQUEST FOR COUNCIL ACTION SUBMITTED TO: HONORABLE MAYOR AND CITY COUNCIL MEMBERS SUBMITTED BY: RAY SILVER, City AdministratorQoo,,O 4PREPARED BY: ROBERT F. BEARDSLEY, Director of Public Works AcGtrp� 2 /V,0. -'4000 -cf-3 SUBJECT: Approve Reimbursement of Traffic Impact Fees to PLC Statement of Issue,Funding Source,Recommended Action,Alternative Action(s),Analysis,Environmental Status,Attachment(s) _Statement of Issue: Should the City reimburse PLC Land Company of the actual costs of constructing street improvements to Edwards Street, between Ellis Avenue and Inlet Drive as required by agreements between the parties? Funding Source: $588,441.25 from unappropriated Traffic Impact Fee Fund Recommended Action: 1) Authorize the Director of Administrative Services to appropriate $588,441.25 from the Traffic Impact Fee Fund and reimburse PLC Land Company for actual costs of construction for street improvements to Edwards Street; and, 2) Adopt Resolution No. 000 - 3 Reimbursing PLC Land Company the Sum of $588,441.25 from the Traffic Impact Fee Fund for Street Improvements. Alternative Action(s): Do not reimburse PLC Land Company at this time, and budget the expense in FY 2000/01 budget. This action may cause interest payments to afcrue-. C', £M3 RE UEST FOR COUNCIL ACTIC9 MEETING DATE: August 21, 2000 DEPARTMENT ID NUMBER:PW-00-086 Analysis: By the terms of the Holly Seacliff Development Agreement No 90-1 dated November 5, 1990, Developer PLC Land Company is obligated to construct certain offsite arterial highway improvements to Edwards Street and Ellis Avenue for the benefit of the City. The Development Agreement and the February 20, 1996 Traffic Fee Credit and Reimbursement Agreement (TFCRA) provide that the Developer's actual costs for these improvements (and the extension of Seapoint Street) are to be reimbursed by the City, either through credits against traffic impact fees payable from development in the Holly Seacliff Area, or from the City's Traffic Impact Fee Fund. PLC Land Company has completed street, traffic signal, median and parkway landscaping improvement on Edwards Street between Ellis Avenue and Inlet Drive. The Developer's verified actual costs for these improvements are $2,595,250.84. Of this amount, $2,006,809.59 has been reimbursed through traffic impact fee credits. As of June 30, 2000, a balance of$588,441.25 is owed to PLC Land Company. The agreements provided that the balance of any amounts due to the Developer is subject to an annual adjustment (interest) based on changes in the Engineering News Record construction cost index. PLC Land Company has no additional developments planned within the Holly Seacliff area in the next year, therefore reimbursement through additional traffic impact fee credits is not expected in the near future. PLC has begun design work for improvements to the north half of Ellis Avenue between Edwards and Goldenwest Streets, and construction is expected to begin by the end of the year. These costs will also be 100 percent reimbursable. For these reasons, and to avoid additional interest payments, staff is recommending payment of the current balance of$588,441.15 to PLC Land Company at this time. Environmental Status: Not applicable. Attachment{s]: City Clerk's Page Number No. Description 1. Traffic Impact Fee Reimbursement Verification 2, Fiscal Impact Statement (Traffic Impact Fee Fund) 3. Resolution No. . W-A?3 RCA Author: L Daily PLC 71F Reimbursement RCA.doc -2- 08117100 8:48 AM ATTACHMENT # 1 Traffic Impact Faeombursements and Credits for My Seacliff Fee paid by PLC, Urban West, Seacliff Partners and other pas ciliates El F!ROJERT.xla-, lEST..'!ITlF-."-=1 AID-,.rTO DAT Estates Tr. 13527 $22,350.00 $0.00 $22,350.00 Tr. 13821 $99,975.00 $0.00 $99,975.00 Tr. 14277 $10,125.00 $10,125.00 $0.00 $42,900.00 $42,900.00 $0.00 22nd St. Tr. 13625 $45,375.00 $45,375.00 $0.00 -r,.-6 4-5 3- $9,900.00 $0.00 $9,900.00 Tr. 6904 $1,800.00 $0.00 $1,800.00 Tr.14042 $7,575.00 $7,575.00 $0.00 Tr.14043 $8,100.00 $4.250.00 $0.00 No refund to New Urban West Tr.14044 $10,125.00 $10,125.00 $0.00 Tr.14243 $7,292.00 $7,292.00 $0.00 Tr.14244 $11,700.00 $11,700.00 $0.00 Tr.14296 $9,300.00 $9,300.00 $0.00 Tr.14318 $9,000.00 $9,000.00 $0.00 Tr.14319 $5,775.00 $5,775.00 $0.00 Tr.14320 $7,200.00 $7,200.00 $0.00 Tr.14321 $6.300.00 $0.00 $0.00 Tr.14326 $19,050.00 $19,050.00 $0.00 Tr.14007 $23,700.00 $0.00 0.Qo Tr.14891 587,280.00 $0.00 Ordo. Tr.14892 $47,860.00 SO.00 47 -no Tr.14134 $2,625.00 $0.00 $0.00 Tr.14647 $9,975.00 $9.975.00 $0.00 Tr.14648 $6,300.00 $5.70000 -6 5$-6 0 0. - . �i 10' 0" Tr.14649 $6,300.00 $0.00 Tr.14650 $13,125.00 SOOO 1. Tr.14651 $8,400.00 50.00 Tr.14652 $8,925.00 $0.00 Tr.14653 $5,250.00 $0.00 01 Tr. 14662 Shea $138,000.00 $0.00 Tr 14700 Port ivy $19,350.00 $0.00 Tr.15034 Lennar $34,650.00 $0.00 Tr.15035 Lennar $72,000.00 $0.00 72-,000.-,001 Tr.15036 Lennar $52,650.00 $0.00 .--,4$52-,65 Tr.15037 Polygon $30,450.00 $0.0c "V30f4 5 Tr.15081 Polygon $59,550.00 $0.00 J ZF$59-115 Tr.15082 Shea $40,200.00 $000 �-.$40100100" Tr.15083 Shea 541,550.00 $0.00 �.:. Tr.15084 Shea $20,700.00 $0.00 .!-$M700;0 Tr.15085 Polygon $34,650.00 $0.00 Tr.15086 Shea $37,350.00 $0.00 $171150_.'00'. TIF Log 4.4 PLC refund 1 7/14/00 10:53 AM Traffic Impact F eimbursements and Credits forelly Seacliff Fee paid by PL*rban West, Seacliff Partners and other pa affiliates AID�Ti5.b_ATEj--- CREDIT-.:Z-'---;4jJT—'j--!,r MMENT41j�-,--� ,,'_ Penh-[[ Tr.15087 Port Ivy $42,900.00 $0.00 Tr.15 088 Port Ivy $52,650.00 $0.00 Y $5 650. Sherwood Tr.14659 Lyon $63,000.00 $0.00 $631000.063 Tr.14978 Lyon $41,550.00 $0.00 o'- $41'1550.00,j Tr.14979 Sea Country $90,300.00 $0.00 $90 300.00"-! 7r.14980 Reilly $140,400.00 $0.00 P $14fl; 00.0 4 Oc6ahvest-,;!�' $47,700.00 $0.0o St.''A u Tr. 15355 $112.950-00 $0.00 al'u5s` , -z' Tr. 14355 $133,350.00 $0.00 s13 qa 'A n Tr. 15531 hn Laing $214,650.00 $0.00 $OT"6 ro 30-0--2� BeaSh-1 Tr. 15520 $70.350.00 $0.00 '07073�5WQOA Be Trio nt Tr. 14660 $151,950.00 $0.00 $15.1 950bo Tr. 14590 $42,600.00 $0.00 $42 60Q 00-1, sGrANWA Tr 15728 $100,500.00 $0.00 1-"%- liAQWCCV Peninsula PAtk';;,"._.9 Tr 155 $130,650.00 $0.00 $��K 67 AO,00. Penlnsula,,Md-rket��j $880,950.00 $0.00 V-: $880 950.00,1 TOTAL $3,451,132.00 $205,342.00 $3,233,015.00 PCL EXPENDITURES vs CREDITS & CASH REFUNDS JOB 33-00-01 SEAPOINT ST. EXTENSION 6130100 Expenditures to Date $1,178,115.74 Agreed Seapoint Cost ($31,102.00) Per TIF Agmt. Item 4, Page 5 TOTAL $1,147,013.74 JOB 34-00-14 EDWARDS PHASE IA-NORTH OF ELLIS (INCLUDES TALBERT AVE.—$4752.60) 6/30/00 Expenditures to Date $2,595,250.84 JOB 34-00-24 ELLIS AVE. PHASE 213-EDWARDS TO GOLDENWEST ' 6/30/00 Expenditures to Date $249,531.34 TOTAL EXPENDED TO DATE $3,991,795.92 TOTAL CREDITS ASSIGNED 1$3,233,015.00. REIMBURSEMENTS TO DATE $205;342:OQ1 OUTSTANDING BALANCE $553,438.92 FEBRUARY 1997 ENR INDEX 4.04% $19,651.34 FEBRUARY 2000 ENR INDEX 2.8% $15,350.99 JADJUSTED OUTSTANDING BALANCE Ff_1580,44T725 I TIF Log 4.4 PLC refund 2 7114100 10:53 AM ATTACHMENT #2 0 • CITY OF HUNTINGTON BEACH INTERDEPARTMENTAL COMMUNICA TION To: Ray Silver, City Administrator From: John Reekstin, Director of Administrative Services Subject: FIS 2000-59 — Approve a PLC Traffic Impact Fee Reimbursement Date: August 10, 2000 As required by Resolution 4832, this Fiscal Impact Statement has been prepared for "Approve the PLC Traffic Impact Fee Reimbursement". If the City Council approves this request (total appropriation $588,441 ), the estimated unreserved, undesignated Traffic Impact Fee Fund balance at September 30, 2000 will be $46,000. J112 Joh Reekstin, Director of Administrative Services ATTACHMENT #3 RESOLUTION NO. 2000-83 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HUNTDgGTON BEACH REIMBURSING PLC LAND COMPANY THE SUM OF $588,441.25 FROM THE TRAFFIC IMPACT FEE FUND FOR STREET IMPROVEMENTS CONSTRUCTED BY PLC LAND COMPANY ON EDWARDS STREET, BETWEEN ELLIS AVENUE AND INLET DRIVE WHEREAS, by the terms of the Holly Seacliff Development Agreement No. 90-1 dated November 5, 1990, Developer PLC Land Company("PLC Land Company") is obligated to construct certain offsite arterial highway improvements to Edwards Street and Ellis Avenue for the benefit of the City of Huntington Beach ("City"). The Development Agreement and a separate February 20, 1996 Traffic Fee Credit and Reimbursement Agreement provide that PLC Land Company's actual costs for these improvements (and the extension of Seapoint Street) are to be reimbursed by the City, either through credits against traffic impact fees payable from development in the Holly SeacliffProject Area, or from the City's Traffic Impact Fee Fund. PLC Land Company has completed street, traffic signal, median and parkway landscaping improvements on Edwards Street between Ellis Avenue and Inlet Drive. PLC Land Company's verified actual costs for these improvements are S2,595,250.84. Of this amount, $2,006,809.59 has been reimbursed through traffic impact fee credits. As of June 30, 2000, a balance of$588,441.25 is owed to PLC Land Company. The above-described agreements provide that the balance of any amounts due to PLC Land Company is subject to an annual adjustment (interest) based on changes in the Engineering News Record construction cost index. PLC Land Company has no additional developments planned within the Holly Seacliff Project Area in the next year, therefore reimbursement through additional traffic impact fee credits is not expected in the near future. PLC Land Company has begun design work for improvements to the north half of Ellis Avenue between Edwards and Goldemvest Streets, and construction is expected to begin by the end of this year. These costs will also be 100 percent reimbursable. For these reasons, and to avoid additional interest payments, City staff, in a report and attachments to the City Council dated August 21, 2000, recommended payment of the current balance of$588,441.15 to PLC Land Company at this time. Per City Council action adopted March 1988, a new appropriation must meet one of the following three criteria: (1) it is an unanticipated emergency; (2) it is required to implement labor negotiations; or (3) it is a new expense that is offset by related new revenues. This request is an unanticipated emergency as the dollar amount or project completion dates cannot be budgeted. NOW, THEREFORE, the City Council of the City of Huntington Beach does hereby resolve as follows: 00resolplc feel8?16 00 1 . Res. No. 2000--83 The City's Director of Administrative Services is hereby authorized to appropriate the sum of$588,441.25 from the Traffic Impact Fee Fund and to pay said sum to PLC Land Company for the purpose of reimbursing PLC Land Company for its actual costs of construction of street improvements on Edwards Street. PASSED AND ADOPTED by the City Council of the City of Huntington Beach at a regular meeting thereof held on the 2Ist day of August , 2000. QrM 40M Mxew� ATTEST: / ayor Tem ow. City Clerk `�-5'�' APPROVED AS TO FORM: REVIEWED AND APPROVED: city A4217nAk& 6y �vS 8 �V`ao ! ROVED: City AdmilTistrator irector of Public Works 00resoiplc fee/&16 00 2 Res. No. 2000-83 STATE OF CALIFORNIA ) COUNTY OF ORANGE ) ss: CITY OF HUNTINGTON BEACH ) I, CONNIE BROCKWAY, the duly elected, qualified City Clerk of the City of Huntington Beach, and ex-officio Clerk of the City Council of said City, do hereby certify that the whole number of members of the City Council of the City of Huntington Beach is seven; that the foregoing resolution was passed and adopted by the affirmative vote of at least a majority of all the members of said City Council at a regular meeting thereof held on the 21st day of August, 2000 by the following vote.- AYES: Julien, Sullivan, Harman, Green, Dettloff, Bauer NOES: None ABSENT: Garofalo ABSTAIN: None City Clerk and ex-officio C rk of the City Council of the City of Huntington Beach, California RCA FTOUTING - =Ei__T INITIATING DEPARTMENT: r Public Works SUBJECT: Approve PLC Traffic Impact Fee Reimbursement .� COUNCIL MEETING DATE: August 21 , 2000 RCA ATTACHMENTS STATUS Ordinance (w/exhibits & legislative draft if applicable) Not Applicable Resolution (wlexhibits & legislative draft if applicable) Not Applicable Tract Map, Location Map and/or other Exhibits Not Applicable Contract/Agreement (w/exhibits if applicable) (Signed in full by the City Aftome Not Applicable Subleases, Third Party Agreements, etc. (Aperoved as to form by City Attome Not Applicable Certificates of Insurance (Ap roved by the City Attorney) Not Applicable Financial Impact Statement (Unbud et, over $5,000) Attached Bonds If applicable) Not Applicable Staff Report (If applicable) Not Applicable Commission, Board or Committee Report (If applicable) Not Applicable Findings/Conditions for Approval and/or Denial Not Applicable EXPLANATION-FOR MISSING ATTACHMENTS REVIEWED . RETURNED _FORWARDED Administrative Staff Assistant City Administrator Initial City Administrator Initial a City Clerk :EXPLANATION FOR RETURN OF ITEM: (Below • For RCA Author: i Council/Agency Meeting Held:4/&/,1 Deferred/Continued to: i� �; Ap roved ❑ Conditions y Approved D Denied City Clerk's Signature Council Meeting Date: November 18, 1996 Department ID Number: PW 96-086 CITY OF HUNTINGTON BEACH REQUEST FOR COUNCIL ACTION SUBMITTED TO: HONORABLE MAYOR AND CITY COUNCIL MEMBERS SUBMITTED BY: MICHAEL T. UBERUAGA, City Administrator PREPARED BY: LES M. JONES II, Director of Public Works SUBJECT: Traffic Impact Fee Reimbursement -- Seapoin treat Extension =staimnt Issue,Funding Source,Recommended Action,Alternative Action(s),Analysis,lcnviron ental Status,Attach ent(s) Statement of Issue: PLC Land Company is requesting reimbursement from City traffic impact fees for Seacliff Partners costs of constructing the extension of Seapoint Street between the Surfcrest project (Tentative Tract No. 14134) and Pacific Coast Highway. Funding Source: Unappropriated traffic impact fee fund. Recommended Action: 1. Authorize staff to appropriate $230,918 from the unappropriated traffic impact fee fund balance to cover reimbursement to PLC Land Company. 2. Authorize the Director of Public Works to expend $230,918 to PLC Land Company for the reimbursement of the extension of Seapoint Street. Alternative Action(s): Deny the refund request. R QUEST FOR COUNCIL ACTIN MEETING DATE: November 18, 1996 DEPARTMENT ID NUMBER: PW 96-086 Analysis: On February 20, 1996, the City Council approved a Traffic Fee Credits and Reimbursement Agreement between the City of Huntington Beach and Seacliff Partners. Under the terms of the agreement, Seacliff Partners is entitled to credit and/or reimbursement from Traffic Impact Fees associated with the construction of the Seapoint Extension arterial highway project between the Surfcrest project (Tentative Tract No. 14134) and Pacific Coast Highway. It should be noted that the agreement requires the City to credit/reimburse the developer once the developer has expended funds for said project. Such is the case with the Seapoint Extension Project, which has been constructed and opened for some time. The total construction cost for the Seapoint Extension in addition to the requested credit and/or reimbursements are shown as follows: Seapoint Extension--------------------------------------- $1,178,116.00 Total Credits Assigned (to date)----------------------- $ <201,440.00> Requested Reimbursement--------------------------- $ <230.918.00> Outstanding Balance-------------------------------------- $ 745,758.00 On May 8, 1996, Seacliff Partners assigned its rights under the above agreement to PLC Land Company. Environmental Status: Not applicable Attachment(s): City Clerk's Page Number. . ......... ...... ............. 1 Location Map 2 Financial Impact Statement 3 Reimbursement Agreement LMJ:B PC 0022120.01 -2- 11/07/96 8:06 AM I f 1! r 1 j rl J r r l l r r l r r A I' I III Alibi, Aimb, 'q �O ti r NOT TO SCALE ATACHMENT No. 1 LOCATION MAP CITY OF HUNTINGTON BEACH DEPARTMENT OF PUBLIC WORKS SEAPT City g of Huntington Beach INTER-DEPARTMENT COMMMUNICATION HUNTINGTQN BEACH TO: MICHAEL T. UBERUAGA, City Administrator FROM: ROBERT J. FRANZ, Deputy City Administrator SUBJECT: FIS 97-05 PLC TRAFFIC FEE REIMBURSEMENT DATE: November 7, 1996 As required by Resolution 4832, a Fiscal Impact Statement has been prepared for the PLC Traffic Impact Fee Reimbursement for $230,91 B. If the City Council approves this request, the estimated fund balance of the Traffic Impact Fee Fund at September 30, 1997 will be reduced to $266,750. OBERT J. FR NZ Deputy City Administrator RJF:skd 0022286.01 11/07/96 10:30 AM r S ' 10 31%96 12 46 %YT14 70214 PLC LAND COMPANY - 1tij002 4 TRAFFIC FEE CREDIT ANTI) RELIVIBURSEWNT AGREENITENT BETWEEN THE CITY OF HU TLNGTON BEACH ANTI) SEACLIFF PA [1\-ERS !-�-to THIS AGRLE*1kZN'T is made and entered into this --2 day of 199k, by and between the CITY OF IiUNTfNGTON BEACH, a murticipei corporation of the State of California ("City"), and SEACI., FF PARTNERS, a California general partnership ("Developer"). RECITALS A. Capi:ahzed terms used herein shall have the meanings assigned to such terms in Section 1 below. B. Developer oAns or has an equitable interest in certain real property (the "Development Agreement Propert!e') located in City, «which is the subject of Development Agreement No. 90-1 by and between City and Pacific Coast Hodes and Garfield Partners (Developer's predecessors-in-interest), recorded Novernber 14, 1990, as Instrument NO. 90- 599766 (the"Development Agreement"). C. By the terms of the Development Agreement and through conditions of approval on tract maps and other entitlements to develop the Development Agreement Property and other properties, City has required Deveoper to constmct certain off-site traffic and circulation improvements, including(1)construction of Seapoirt Street between the boundary of Tentative Tract No. 14134 and Pacific Coast Highway (the"Seapoint Extension ), as required by the conditions of approval for Tentative Tract Nos. 14134 and .Y4135, (2) improvement of the north half of Ellis Avenue between Edwards Street and Goldenwest Street, as required by the Development Agreement (the"Ellis Facility"), and (3) construction of Edwards Street from Ellis G:Atrct:?an-11l24/96 RLS 93-4sb f0.i31f96 12:48 IT 14 5 214 PLC LAND COMPANY I�-QQ3 Avenue to inlet Drive, as required by the Dcvclopmert .agreement (the "Edwards Facility") (individually, the"Facility" or, cvllec:lvely, the"Facilities"). Additionally, the City desires that the Developer install a certain traffic aimproverrent, known as the Beach Boulevard - Huntington Street Traffic Signal Interconnect (the "Beach Facility"). D. The parties acknowledge that compliance with this Agreement i4ill satisfy all requirements for off site traffic and circu)ation improxicnients associated with development of the Development Agreement Property. E. The Developer owns or Vitas an equitable interest in certain real property located in City that will bene-5t from the Facilities as more par:icilarly shown on the Site Map attached hereto as Exhibit "A". F. The Facilities will benefit properties in City other than the Property. G. 'Developer is required to pay a traffic impact fee of one hundred fifty dollars ($150.00) (the"Development Agreement Traffic Lmpact Fee") per incremental trip generated by development of the Development Agreement Property- H. Cite currently imposes a traffic impact fee cf scvcnty-five dollars($75.00) (the City-Wide Traffic Impact Fee") per incremental trip generated by development within City to fund certain City-wide transportation system ImDroveme-its, inciuding the Facilities. I. The conditions of approval for Tentative Tract Nos. 14134 and 14135 provide that City shall reimburse Developer for the cost of Scapoint Extension. The Development Agreement provides that the City shall credit the Development Agreement Traffic Impact Fees for the cost of ' the Ellis and Edwards Facilities. 1 City and Developer desire:o set forth the terms and conditions for said credit and reimbursement. 2 R1.5 9S-4Z8 10 31=96 12:49 'UT14 TO214 PLC LAND COMPANY _ 0004 NOW, THEREFORE, in consideration of the covenants and agreements herein contained the panics hereby agree as follows: I- DEFINITIDiti "City" shall 'lave the mea,,iing set forth in the Introduction of this Agreement. "City-Wide Traffic Impact Fee'. shall have the meaning set forth in Recital H of this Agreement. "Developer" shall have the meaning set forth in the Introduction of this Agreement. "Development Agreement" shall have the meaavng set forth in Recital B of this Agreement. "Development Agreement Propel-v" shall rave the meaning set forth in Recital B of this Agreement. "Development Agreement Traffic impact fee" shall have the meaning set forth in Recimi G of this Agreement. "Facility" and"Facilities" shall :rave the meaning set forth in Recital C of this Agreement. "Non-Property Traffic Impact Fees" shad have the meaning set forth in Section 2 of this Agreement. "Property" shall have the meaning set forth in Recital E of this Agreement. t "Property Traffic Impact Fees" shal! have the meaning set forth in Section 2 of this Agreement. 3 Gi:.k,re.Part mm"i122196 KLS 95- U 101131•196 12:49 V714 i 214 PLC LAND COMPANY � 2005 "Reimbursable Costs" shall have the meaning set orth in Section IV of this Agreement. "Scapoint Extension" shall havc the meaning set forth in Recital C of this Agreement. 2. USE OF FEES The Development Agreernenc Traffic Impact Fees and the City-Wide Traffic Impact lees collected by City v.ith respect to the Property (collectively, the "Property Traffic Impact Fees") shall be accounted for separatc fror;t the Cite-Fide Traffic Impact Fees with respect to development of property other than the Property (the"Non-Property Traffic Impact Fees"). The Property Traffic Impact Fees shzil be used exclusively to credit and/or reimburse Developer for the Facilities, ailer which they may be used at City's discretion to pay for other off-site traffic irnprovcmcnts bcncfiting the Property. 3_ CONSTRUCTION OF FACILITIES Developer shall construct eachh Facility in accordance with the terms and conditions of the Development Agreement and the conditions of approva] for Tentative Tract Nos. 14134 and 14135. or as may be mutually agreed to by written amendment thcreto by City and Developer. 4, REDABURSABLE C(ST� Developer shall be entitled to credit or reimbursement of all costs actually incurred for constructing each Facility, including, Without limitation, One cost of acquiring any off- site property interest or reimbursing City therefor (except for acquiring any property owned by Huntington Beach Company necessary for the Seapoint Extension), preparing and processing improvemcni plans, obtaining any governmental permits or approvals, posting any bonds or other 4 G.Apee'F,u��tus 1:�719G RLs 9s-.2s 10:31.96 12:49 V 714 701214 PLC LAND COMPANY z m security, insurance, any other pre-development costs, constructing the Facility, administering a contract for the Facility construction, supcn-Asing a coni:actor's construction of the Facility, and reasonable overhead (collectively, the"Reimbursable Costs") Notwithstanding the foregoing, for the Seapoint Street extension only, City will not reinmburse Developer 2.4 percent of the construction costs plus ten (10%) percent ofthe 2.4 percent for aclniinistrative casts of City for purposes of this section, "construction" includes design, acquisition and physical construction. As an example: if the total cost is $1,000,000, they: S24,0G0 plus S2,400 or $26,400 would not be reirribursed. 5. Th1VOZCE AIti'�]i V"ERTFTCATIO'ti As soon as possible following Developer's completion of construction and offer of dedication of etch Facility,D-.vcloper shall prati^de City with such evidence as may reasonably be required by City of all Reimbursable Coss. City shall accept as reasonable the actual cost of any contract for construction of any Facili`y or portion thereof, provided that Developer submits evidence of solicitation o`t'r:-ce hies ,or any contrsct exceeding $50,000,00. Within thirty (30) days aster receipt of Developer's invoice, City's Director of Public WofKs shall verify Developer's invoice and ceterrr.ne the Reimbursable Costs. If Developer disputes the determination of Reimbursable Costs, Developer may appeal the Public Works Director's determination to the City Administrator and may appeal the City Administrator's determination to the City Council; p-mvided, however, that 'in the event of a dispute of the Reimbursable Costs, City shad reimburse Developer for the undisputed portion of Reimbursable Costs, and interest shall accrue after the thirtieth (30th) day following City's receipt of Developer's invoice on the disputed portion of the Reimbursable Costs ultimately awarded to S G:Agm:Yartnerail:22�96 R1.5 95.438 Io.31 86 12:50 '0 14 7 214 PLC LAND COMPANY 1�007 Developer or any undisputed and Unpaid panions at a ftuctuafing interest rate of prime as indexed by Bank of America plus two percent (2%'). G. RE2NMURSEXENT . ND CREDIT The parties anticipate that none of the Facilities shall be required to be constructer! until ,Property Traffic Impact Fees equivalent to the Reimbursable Casts therefor have accrued, specifically, the City will not require the construction of the Ellis Facility or the Edwards Facility prior to 1) ;he total reimbursement for the Seapoint Extension, and 2) the collection of suMcient additional credits to totally fiend the Ellis Facility and then the Edwards Facility. For Seapoint Extension solely, Developer is entitled to credit and/or reimbursement from both Property Traffic Impact Tees and any Non Property Traffic Impact Fees. Upon determination of the Reimbursable Costs for any Faciht3,, City shall issue a check to Developer therefore payable, from the Property Traffic Impact Fees prelAously collected. To :he extent that Developer's Reimbursable Costs exceed the prn ously-collected Property Traffic Impact Fees, then City shall reimbu.5e Developer with Non Property Traffic Impact Fees at the discretion of City, until Developer l as received its total Reimbursable Costs in reimbursements and credits. 7. ANNUAL ADJUSTMENT On the anniversary of City's verification of Developer's invoice for each Facility, the balance of the Reimbursable Costs not reimbursed or actually credited agpanst Property Traffic Impact Fees otherwise due and payable shall be increased based upon the f Engineering News Record index, provided, however, in no event shall the 7mount exceed two , hundred Percent (200%) of the original Reimbursable Costs for each F2ciiity. b RLS 95-828 10.31;96 121:50 1071 14 729 d PLC LAND COMPANY ;Q008 8. ENTWTY The Development Agreement, conditions of approva3 for Tentative Tract Nos 14134 and 14135, and this Agreement contain the entire agreement between the parties hereto with respect to the subject matter hereof. 9. QCES .Al, notices given hereunder sl::Il be effective when personally delivered or, if muted, Aithin 48 hours of the deposit of such notice in the U.S. mail, prepaid, and certified with return receipt requested and addressed to :he respective addresses sbown below: To City: City of Huntington Beach 2000 Main Street Huntington Beach, CA 92648 To Developer. Dennis O'Connor, Vice President Pacific Coast Homes 23 Corporate Plaza, Suite 250 Newport Beach, CA 92660 With copy to: Thomas Zanic, Vice President New Urban West, Inc. 520 Broadway, Suite 100 Santa Monica, CA 90401 10. ATTORNEY FEES In the event suit is brought by either party to enforce the terms and pro,"islons of this agreement to secure the performance hereof, each party shall bear its own: attorneys' fees and costs. 7 O:kgrr:P:utncral!r�,'94 RLS 95-428 12:51 C 14 7W213 PLC LANI: C031PANY 11. NIQ THIRD PARTY BENTFICI A.RIES This Agreement is made and entered into for she sole protection and benefit of the parties and their successors and assigns. No other person shaft have any right of action based upon any provision of this Agreement. 12. 01OINT VENTURE OR PART NERSHP Nnothing contained herein shah he construed as creating a partnership or joint venture berwccr. or among City and Developer. BALANCE OF PAGE LNTENTIONAt LY LEFT BLANK S G:A.;r cr:Pwui.rs}1 f22.96 W 9ss2H I ._ - .-_'.-._•-_:•-_. --....._. - -.s�.__-....--..�. ._.s......-_.-.-.- __...__...�.___�.._�_.._a-. 10.31 90 12:51 %TT 14 i� 121.1 PL: LANP C031PANY �1010 13. TE%M This Agreement shall retrain In effect until such time as Developer has received reimbursement and/or credits for the Reimb►:rsable Costs of the Facilities. IN WITNESS ATIEREOF, the parties hereto have caused this Agreement to be executed by and through their authorized officers as of the date first written above. DEVELOPER- CITY: SEACLIFF PARTNERS, CITY OF HUNTINGTON BEACH, a Califorria general partnership a rnut-acipal corporation of the State of California By: Pacific Coast Homes, a California corporation, its its general partner _ 2%c Mayor By: - -- .1_. O'C0,1jA,3 CC),�- � �(print or q-pe narne) Its: icircie one}ChairmazJPresidentl ice Pre�sjd,,-D- ' ATTEST: City CIerk �•� ,print or type name) Its: (circle one)SecreEwyX dFinancial Wxcrl Asst Secretary treasurer APP RO'TD AS TO FOKM* -��- City Attorney r—Z RQTIA D PR VED: Director of Public Works REVIE M APPROVED- s ' .ty drrlinSstratvr 9 G.,�gaa'PyUsazs�l R2:96 tZ,S 4S-a78 10�31-A6 12:51 W 14 1214 PLC LAND COMPANY STATE OF CALIFORNIA } ss COUNTY OF ORANGE ) On February 6, 1996, before me, Kathy Spencer, Notary Public, personally appeared D.L. O'Connor and W.D_ Holman personally knovm to me (or provided to me on the basis of satisfactory evidence)to be the persons whose names are subscribed to the within instrument and acknowledged to me that they executed the same in their authorized capacitics, and that by their signatures on the ins::�-.nent the person, or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. vATw wENCER NdNW PUWC—Co9twr�ia ORANGE CMNry hAy comm.E�aa FEs ia.79" WWI NNoiar/Signature CITY OF I- UNTINGTON BEACH 2000 MAIN STREET CALIFORNIA 92648 OFFICE OF THE CITY CLERK CONNIE BROCKWAY CITY CLERK Mr. Dennis O'Connor February 29 , 1996 Pacific Coast Homes 23 Corporate Plaza Ste. 250 Newport Beach, CA 92660 Dear Mr. O 'Connor, Transmitted herewith is a duly executed copy of the Traffic Fee Credit and Reimbursement Agreement Between the City of Huntington Beach and Seacliff Partners. This agreement was approved by the Huntington Beach City Council on February 20 , 1996. Please call Mr. Les Jones, Public Works Director if you have any questions . Sincerely, Connie Brockway,CMC City Clerk CC: Thomas zanic, Vice President New Urban West, Inc. 520 Broadway, Ste. 100 Santa Monica, CA 90401 cc: Les Jones, Department of Public works I Telephone:714.536.5227 � r d Council/Agency Meeting Held: 1-20-9G Deferred/Continued to: X I I pproved ❑ Conditionally Approved ❑ Denied City Clerk' ignature Council Meeting Date: FEBRUARY 20, 1996 Department ID Number: 96-010 CITY OF HUNTINGTON BEACH REQUEST FOR COUNCIL ACTION SUBMITTED TO: HONORABLE MAYOR AND CITY COUNCIL MEMBERS SUBMITTED BY: MICHAEL T. UBERUAGA, City Administrator PREPARED BY: v L S M. JONES, 11, Director of Public Works G� SUBJECT: Traffic Impact Fee Credit and Reimbursement Agreem nt between the City of Huntington Beach and Seacliff Partners Statement of Issue,Funding Source,Recommended Action,Alternative Action(s),Analysis,Environmental Status,Attachment s) /P" Statement of Issue: Pursuant to the conditions for Tentative Tracts No. 14134 and 14135 and the Holly/Seacliff Development Agreement, the developer, Seacliff Partners is required to develop three arterial highway projects, and the City is required to credit/reimburse the developer with traffic impact fees for that work. A Traffic Impact Fee Credit and Reimbursement Agreement has been prepared and is now ready for City Council review and approval. Fundinq Source: Traffic Impact Fees. Recommended Action: Authorize the Mayor to execute the Traffic Impact Fee Credit and Reimbursement Agreement between the City of Huntington Beach and Seacliff Partners. Alternative Action(s): 1. Deny authorization to execute the Traffic Impact Fee Credit and Reimbursement Agreement. 2. Direct staff to modify the Traffic Impact Fee Credit and Reimbursement Agreement. #QUEST FOR COUNCIL ACTI9 MEETING DATE: FEBRUARY 20, 1996 DEPARTMENT ID NUMBER: 96-010 Analysis: The conditions of approval for Tentative Tracts No. 14134 and 14135 both require the developer, Seacliff Partners, to construct the Seapoint Extension arterial highway project. The conditions of approval also state that the developer is to be reimbursed for said project-with traffic impact fees. Homes have been constructed in Tract No. 14134(Surfcrest), necessitating the construction and subsequent opening of said Seapoint Extension project. Traffic impact fees are now due the developer. The development agreement for the Holly/Seacliff Project requires the developer, Seacliff Partners, to develop the widening of Edwards Street, between Ellis Avenue and Talbert Avenue and the widening of Ellis Avenue, north side, between Edwards Street and Golden West Street. Since these two arterial highway segments are both outside of the Holly/Seacliff Specific Plan area, the development agreement requires that the City credit/reimburse the developer for these two projects with traffic impact fees. 'The total traffic impact fees expected to be generated by the Holly/Seacliff Project by build-out is expected to amount to approximately $7.3 million. The estimated cost to develop the three arterial highway projects including right-of-way acquisition, is as follows: Seapoint Extension ------------------------------------------------------------ $1,140,000 Edwards Widening, Ellis to Talbert -------------------------------------------1,040,000 Ellis Widening, North Side, between Edwards and Golden West - - 1,175,000 Total -------------------- $3,355,000 City staff and the developer have negotiated a Traffic Impact Fee Credit and Reimbursement Agreement which is hereby presented for City Council review and approval. It should be rioted that the agreement requires the City to credit/reimburse the developer with interest, once the developer has expended funds for said projects. Such would be the case with the Seapoint Extension Project, which has been constructed and opened for some time. The developer has also expended considerable funds for right-of-way acquisition on the Ellis Avenue project. It is staff's goal to minimize the expenditure of traffic impact fees for interest expenses. it is, therefore, staff's intention to delay construction of the Edwards and Ellis projects until sufficient traffic impact fee credits have built up, not only to complete the reimbursement for the Seapoint Project and Ellis right-of-way acquisition, but also to fully fund Edwards and then Ellis, in that order. 0016921.01 -2- 02/07/96 10:19 AM GUEST FOR COUNCIL ACTIM MEETING DATE: FEBRUARY 20, 1996 DEPARTMENT 1D NUMBER: 96-010 Environmental Status: Not Applicable City Clerk's Page Number 1. Traffic Impact Fee Credit 2. Reimbursement Agreement between the City & Seacliff Partners rcaltifreimburseagreeldoc#16921 0016921.01 -3- 02/06/96 11:40 AM TRAFFIC FEE CREDIT AND REIMBURSEMENT AGREEMENT BETWEEN THE CITY OF HUNTINGTON BEACH AND SEACLIFF PARTNERS THIS AGREEMENT is made and entered into this g day of 199k by and between the CITY OF HUNTINGTON BEACH, a municipal corporation of the State of California("City"), and SEACLIFF PARTNERS, a California general partnership ("Developer"). RECITALS A. Capitalized terms used herein shall have the meanings assigned to such terms in Section 1 below. B. Developer owns or has an equitable interest in certain real property (the "Development Agreement Property") located in City, which is the subject of Development Agreement No. 90-1 by and between City and Pacific Coast Homes and Garfield Partners (Developer's predecessors-in-interest), recorded November 14, 1990, as Instrument No. 90- 599766 (the "Development Agreement"). C. By the terms of the Development Agreement and through conditions of approval on tract maps and other entitlements to develop the Development Agreement Property and other properties, City has required Developer to construct certain off-site traffic and circulation improvements, including (1) construction of Seapoint Street between the boundary of Tentative Tract No. 14134 and Pacific Coast Highway(the"Seapoint Extension"), as required by the conditions of approval for Tentative Tract Nos. 14134 and 14135, (2) improvement of the north half of Ellis Avenue between Edwards Street and Goldenwest Street, as required by the Development Agreement (the "Ellis Facility"), and (3) construction of Edwards Street from Ellis 1 G:Agree:ParLnersl1/24!96 RIS 95-428 Avenue to Inlet Drive, as required by the Development Agreement (the "Edwards Facility") (individually, the"Facility" or, collectively, the"Facilities"). Additionally, the City desires that the Developer install a certain traffic improvement, known as the Beach Boulevard - Huntington Street Traffic Signal Interconnect (the "Beach Facility"). D. The parties acknowledge that compliance with this Agreement will satisfy all requirements for off-site traffic and circulation improvements associated with development of the Development Agreement Property. E. The Developer owns or has an equitable interest in certain real property located in City that will benefit from the Facilities as more particularly shown on the Site Map attached hereto as Exhibit "A". F. The Facilities will benefit properties in City other than the Property. G. Developer is required to pay a traffic impact fee of one hundred fifty dollars ($150.00) (the"Development Agreement Traffic Impact Fee") per incremental trip generated by development of the Development Agreement Property. H. City currently imposes a traffic impact fee of seventy-five dollars ($75.00) (the City-Wide Traffic Impact Fee") per incremental trip generated by development within City to fund certain City-wide transportation system improvements, including the Facilities. I. . The conditions of approval for Tentative Tract Nos. 14134 and 14135 provide that City shall reimburse Developer for the cost of Seapoint Extension. The Development Agreement provides that the City shall credit the Development Agreement Traffic Impact Fees for the cost of the Ellis and Edwards Facilities, J. City and Developer desire to set forth the terms and conditions for said credit and reimbursement. 2 G:Agree:Partners�.1;22 96 RL5 95-426 NOW, THEREFORE, in consideration of the covenants and agreements herein contained the parties hereby agree as follows: 1. DEFINITIONS "City" shall have the meaning set forth in the Introduction of this Agreement. "City-Wide Traffic Impact Fee" shall have the meaning set forth in Recital H of this Agreement. "Developer" shall have the meaning set forth in the Introduction of this Agreement. "Development Agreement" shall have the meaning set forth in Recital B of this Agreement. "Development Agreement Property" shall have the meaning set forth in Recital B of this Agreement. "Development Agreement Traffic Impact Fee" shall have the meaning set forth in Recital G of this Agreement. "Facility" and "Facilities" shall have the meaning set forth in Recital C of this Agreement. "Non-Property Traffic Impact Fees" shall have the meaning set forth in Section 2 of this Agreement. "Property" shall have the meaning set forth in Recital E of this Agreement. "Property Traffic Impact Fees" shall have the meaning set forth in Section 2 of this Agreement. 3 G:Agree:Panners!f'22%96 RLS 95428 "Reimbursable Costs" shall have the meaning set forth in Section IV of this Agreement. "Seapoint Extension" shall have the meaning set forth in Recital C. of this Agreement. 2. USE OF FEES The Development Agreement Traffic Impact Fees and the City-Wide Traffic Impact Fees collected by City with respect to the Property (collectively, the"Property Traffic Impact Fees") shall be accounted for separate from the City-Wide Traffic Impact Fees with respect to development of property other than the Property (the"Non-Property Traffic Impact Fees"). The Property Traffic Impact Fees shall be used exclusively to credit and/or reimburse Developer for the Facilities, after which they may be used at City's discretion to pay for other off-site traffic improvements benefiting the Property. 3. CONSTRUCTION OF FACILITIES Developer shall construct each Facility in accordance with the terms and conditions of the Development Agreement and the conditions of approval for Tentative Tract Nos. 14134 and 14135, or as may be mutually agreed to by written amendment thereto by City and Developer. 4• REIMBURSABLE COSTS Developer shall be entitled to credit or reimbursement of all costs actually incurred for constructing each Facility, including, without limitation, the cost of acquiring any off- site property interest or reimbursing City therefor (except for acquiring any property owned by Huntington Beach Company necessary for the Seapoint Extension), preparing and processing improvement plans, obtaining any governmental permits or approvals, posting any bonds or other 4 0:Agree:Partners\1 i22/96 RLS 95-428 security, insurance, any other pre-development costs, constructing the Facility, administering a contract for the Facility construction, supervising a contractor's construction of the Facility, and reasonable overhead (collectively, the"Reimbursable Costs"). Notwithstanding the foregoing, for the Seapoint Street extension only, City will not reimburse Developer 2.4 percent of the construction costs plus ten (10%) percent of the 2.4 percent for administrative costs of City. For purposes of this section, "construction" includes design, acquisition and physical construction. As an example: if the total cost is $1,000,000, then $24,000 plus $2,400 or $26,400 would not be reimbursed. 5. INVOICE AND VERIFICATION As soon as possible following Developer's completion of construction and offer of dedication of each Facility, Developer shall provide City with such evidence as may reasonably be required by City of all Reimbursable Costs. City shall accept as reasonable the actual cost of any contract for construction of any Facility, or portion thereof, provided that Developer submits evidence of solicitation of three bids for any contract exceeding $50,000.00, Within thirty (30) days after receipt of Developer's invoice, City's Director of Public Works shall verify Developer's invoice and determine the Reimbursable Costs. If Developer disputes the determination of Reimbursable Costs, Developer may appeal the Public Works Director's determination to the City Administrator and may appeal the City Administrator's determination to the City Council; provided, however, that in the event of a dispute of the Reimbursable Costs, City shall reimburse Developer for the undisputed portion of Reimbursable Costs, and interest shall accrue after the thirtieth (30th) day following City's receipt of Developer's invoice on the disputed portion of the Reimbursable Costs ultimately awarded to 5 G:Agree Tanners\1122196 RLS 95.429 Developer or any undisputed and unpaid portions at a fluctuating interest rate of prime as indexed by Bank of America plus two percent (2%). 6. REIMBURSEMENT AND CREDIT The parties anticipate that none of the Facilities shall be required to be constructed until Property Traffic Impact Fees equivalent to the Reimbursable Costs therefor have accrued; specifically, the City will not require the construction of the Ellis Facility or the Edwards Facility prior to 1) the total reimbursement for the Seapoint Extension, and 2)the collection of sufficient additional credits to totally fund the Ellis Facility and then the Edwards Facility. For Seapoint Extension solely, Developer is entitled to credit and/or reimbursement from both Property Traffic Impact Fees and any Non Property Traffic Impact Fees. Upon determination of the Reimbursable Costs for any Facility, City shall issue a check to Developer therefore payable, from the Property Traffic Impact Fees previously collected. To the extent that Developer's Reimbursable Costs exceed the previously-collected Property Traffic Impact Fees, then City shall reimburse Developer with Non Property Traffic Impact Fees at the discretion of City, until Developer has received its total Reimbursable Costs in reimbursements and credits. 7. ANNUAL ADJUSTMENT On the anniversary of City's verification of Developer's invoice for each Facility, the balance of the Reimbursable Costs not reimbursed or actually credited against Property Traffic Impact Fees otherwise due and payable shall be increased based upon the Engineering News Record index; provided, however, in no event shall the amount exceed two hundred percent (200%) of the original Reimbursable Costs for each Facility. 6 G:Agree:Pannew.1/21:96 RLS 95428 8. ENTIRETY The Development Agreement, conditions of approval for Tentative Tract Nos. 14134 and 14135, and this Agreement contain the entire agreement between the parties hereto with respect to the subject matter hereof 9. NOTICES All notices given hereunder shall be effective when personally delivered or, if mailed, within 48 hours of the deposit of such notice in the U.S. mail, prepaid, and certified with return receipt requested and addressed to the respective addresses shown below: To City: City of Huntington Beach 2000 Main Street Huntington Beach, CA 92648 To Developer: Dennis O'Connor, Vice President Pacific Coast Homes 23 Corporate Plaza, Suite 250 Newport Beach, CA 92660 With copy to: Thomas Zanic, Vice President New Urban West, Inc. 520 Broadway, Suite 100 Santa Monica, CA 90401 10. ATTORNEY FEES In the event suit is brought by either party to enforce the terms and provisions of this agreement to secure the performance hereof, each party shall bear its own attorneys' fees and costs. 7 G:Agree:Pannersl 122196 RIS 95-428 11. NO THIRD PARTY BENEFICIARIES This Agreement is'made and entered into for the sole protection and benefit of the parties and their successors and assigns. No other person shall have any right of action based upon any provision of this Agreement. 12. NO JOINT VENTURE OR PARTNERSHIP Nothing contained herein shall be construed as creating a partnership or joint venture between or among City and Developer. BALANCE OF PAGE INTENTIONALLY LEFT BLANK 8 G:Agree:Partners-1122 96 RLS 95428 i • 13. TERM This Agreement shall remain in effect until such time as Developer has received reimbursement and/or credits for the Reimbursable Costs of the Facilities. IN WITNESS ' IATHEREOF, the parties hereto have caused this Agreement to be executed by and through their authorized officers as of the date first written above. DEVELOPER: CITY: SEACLIFF PARTNERS, CITY OF HUNTINGTON BEACH, a California general partnership a municipal corporation of the State of California By: Pacific Coast Homes, a California corporation, its ry� its general partner Mayor By: (print or type name) Its: (circle one)Chairman/1'residentl ice Preside ATTEST: By: L City Clerk (print or type name) Its: (circle ono)Secretary/Chief Financial Officer/ Asst. Secretary reasurer APPROVED AS TO FORM: e City Attorney f. x INITIA D D PR VED: Director of Public orks REVIEW APPROVED: 5z—�//X/-0, ty dministrator 9 Q Agrec:Panricrs11122;96 RLS 95-428 STATE OF CALIFORNIA ) COUNTY OF ORANGE ) 55 On February 6, 1996, before me, Kathy Spencer, Notary Public, personally appeared D.L. O'Connor and W.D. Holman personally known to me (or provided to me on the basis of satisfactory evidence)to be the persons whose names are subscribed to the within instrument and acknowledged to me that they executed the same in their authorized capacities, and that by their signatures on the instrument the person, or the entity upon behalf of which the person(s) acted, executed the instrument. WITNESS my hand and official seal. KATW SPENCER ;L6 pp�y�//� 10/1►8�1p6/6�/�/� Nway pUAY—COMM i �p1,ANGE coUN1Y MM Comm.Expkes FEB 16.1996 -N1ot Signature 77 SITE MAP EXHIBIT A ; I .. . ! SEACLiFF PARTNERS - :;-` -� ''; '' a"-=- �I - \•: I ` E' i - i LA zza '��• Iwo 1 1 of, <% 51