TO: Mayor and City Council
FROM: Beth Beatty, City Manager
SUBJECT:
title
Ordinance Establishing a Recapture Fee for Connection to Certain Public
Improvements
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BACKGROUND:
On February 4, 2020, through Ordinance 18058, the Mayor and City Council approved a Recapture Agreement for improvements that a developer (275 Laraway Investors, LLC) was to install in the area of Marcella and Laraway Roads. Specifically, the developer was to install Marcella Roadway improvements, a traffic signal at Marcella and Laraway, and water and sewer connections. Under the Ordinance, once those improvements are completed, the developer is to file an affidavit of costs with the city, and we are to adopt the final Agreement by ordinance.
The improvements have been completed.
The attached recapture fulfills our obligations pursuant to Ordinance 18058. As required, a Certification of Cost is attached; the final cost is $1,920,329.45. The recoverable cost is apportioned between properties that may benefit from the improvements. The recapture is triggered when the landowner seeks connection to the improvements. We have similar agreements with other developers in various parts of the City.
RECOMMENDATION:
recommendation
The Administration recommends that the Ordinance adopting Recapture Agreement with 275 Laraway Investors, LLC for improvements at Marcella and Laraway be approved.
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