09/18/2001 CC RPT 03 - Laserfiche WebLink

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, CITY OF RIVERSIDE REDEVELOPMENT AGENCY MEMORANDUM Honorable Mayor & Agency Members Date: Item No.: September 18.2001 3 Subject: Request Approval of Budget Appropriation for the Reimbursement of Site Development Costs in Connection with Construction of the Storm Drain Improvements at University Village - University Corridor/Sycamore Canyon Project Area Funds Transfer Background On July 25. 1995. the City Council and the Redevelopment Agency ("Agency") jointfy approved the University Village Disposition and Development Agreement ("DDA") between the Agency and University Village LLC ("Developer"), The DDA provided for the sale, purchase and development of approximately 15 acres of property located northeasterly of the intersection at University Avenue and Iowa Avenue otherwise known as University Village Development ("Development"). As part of the DDA. the Ageney was obligated to provide eertain infrastructure improvements and to reimburse the developer for extraordinary site preparation costs. Most recently. the Agency reaffirmed this obligation when they approved the University Village Center Fifth Implementation Agreement (Section 4.4) on June 19,2001, The infrastructure and site improvements which are the subjeet of this agenda item relate to the portion of University \\'ash adjacent to and encroaching into CalTrans freeway right-of-way. The connection to the CalTrans' facilities could not have been completed on their own or in isolation of work needed to prepare the site for the parking garage. Additional site work had to occur in order to make the connection possible, For example. that particular area ortlle storm drain required over excavation. recompaction and grading. Although the site has been de\'eloped \\'ithout any major contingencies, site preparation related to the University Wash connection to CalTrans' facilities was expected to be a significant issue. Work in that regard has now been started and the Developer is seeking reimbursement for eligible expenses in accordance with the DDA, A portion of the storm drain channel was constructed 011 the University Village property. However. the ultimate connection from the 96" pipe to the culvert has yet to be constructed or will be constructed in a subsequent phase, Current Issue On April 16.2001. the Developer successfulfy obtained a permit from the California Transportation Department to encroach onto their (CaITrans) property to prepare the site for the construction of the storm drain; more specifically', the construction of the 96" pipe up to the property line of University Village. While this effort has no\\ been completed, a second permit from CalTrans is currently in the process for the final connection tram the pipe 10 the culvert, At this time. staff is requesting that the Agency Board authorize a budget appropriation in the amount of $231.271.92 as reimbursement for site preparation cost to datc. In an etTort to determine the developer's costs associated with the storm drain pipe. a detailed invoice along with backup documents was submitted to staff. Such costs have been verified through a site inspcction of the work performed to date, Fiscal Impact The cxisting obligation of the Agency' to cover thc extraordinary site development costs was established at the time the DDA was approved by the Agency, As illustrated on Exhibit "A". funds are available in the accounts shown fi.x transfer to accounts for Univ'crsity Village Storm Drain. 3-1