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11-19-2002 CC RPT 29
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Last modified
2/4/2009 12:51:25 PM
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11/14/2002 8:44:53 PM
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General
General - Type
City Council Reports
General 2 - Date
11/19/2002
Number
29
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11-19-2002 CC AGENDA
(Agenda)
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\City Council Agendas\2000-2009\2002
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CITY OF RIVERSIDE <br /> <br />People ~.9os <br /> <br />HONORABLE MAYOR AND CITY COUNCIL <br /> <br />SUBJECT: <br /> <br /> DATE: November 19, 2002 <br /> <br /> ITEM NO: 29 <br />REIMBURSEMENT AGREEMENT WITH REGIONAL PROPERTIES, IN(':, <br /> <br />FOR LANDSCAPING AND IRRIGATION COSTS IN TRAUTWEIN ROAr) <br /> <br />BACKGROUND: <br /> <br />Parcel Map 26320 (Mission Grove Plaza located on southeast corner of Alessandro and Trautwein) was <br />required as a condition of approval to fully landscape the adjacent existing median on Trautwein Road. <br />Since the City's standard practice is to require a development to only contribute one-half the cost of a <br />median, the developer, Regional Properties, Inc, has requested to be reimbursed for one-half cost. The <br />reimbursement will come from the median fees the City collects from Tract 29766, which is located on the <br />west side of Trautwein Road directly across from the Mission Grove Plaza. <br /> <br />The attached agreement between the City of Riverside and Regional Properties, Inc. provides for the <br />reimbursement. Under the terms of the agreement, the City will reimburse Regional Properties Inc. 95- <br />percent of the median fees collected from Tract 29766. The City will retain 5-percent of the fees for <br />administrative costs. <br /> <br />Regional Properties Inc. has completed landscaping the median on Trautwein Road and the City has <br />collected $31,031 in median fees from Tract 29766. <br /> <br />FISCALIMPACT: <br /> <br />There is no fiscal impact to the City. The City has received $31,031.00 in median fees from Tract 29766. <br />Under the terms of the agreement, Regional Properties Inc. will be reimbursed $29,479.45 for installing <br />the landscaping improvements and the City will retain $1,551.55 to offset administrative expenses. <br /> <br />ALTERNATIVES: <br /> <br />None. The City received payment from the developer of Tract 29766 for median improvements in this <br />area. Regional Properties completed this portion of median improvements to the City's satisfaction and <br />therefore should be reimbursed a portion of this payment. <br /> <br />RECOMMENDATIONS: <br /> <br />The City Council approve the attached Reimbursement Agreement for Landscaping and Irrigation Costs <br />(Parcel Map 26320) and authorize the City Manager or his designee to execute the agreement. <br /> <br />29-1 <br /> <br /> <br />
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