Title
Transportation Department recommending Chairman be authorized to sign Acquisition Agreement AGMT 08-1781 with Ridgeview Homes West, LLC related to a bond issuance through the California Statewide Communities Development Authority Statewide Community Infrastructure Program (SCIP).
RECOMMENDED ACTION: Approve.
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BUDGET SUMMARY: |
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Funding |
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$ |
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New Funding |
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$0 |
Fiscal Impact/Change to Net County Cost: There is no fiscal impact to the County's General Fund.
Background: On December 5, 2006, the El Dorado County Board of Supervisors passed Resolution 394-2006, allowing developers to utilize the Statewide Community Infrastructure Program (SCIP) to finance impact fees and construction of development-conditioned infrastructure for projects inside El Dorado County.
Reason for Recommendation: The Developer has applied for and been granted financing of public capital improvements (Via Treviso Road, etc.) though the Statewide Community Infrastructure Program ("SCIP") administered by the California Statewide Communities Development Authority in the amount of approximately $1 million dollars. This agreement allows the County to accept the improvements, audit the project costs, and authorize the California Statewide Communities Development Authority to release SCIP bond proceeds to the Developer as a reimbursement.
Action to be taken following Board approval: Chairman of Board is to sign the California Statewide Communities Development Authority - Statewide Community Infrastructure Program Acquisition Agreement by and Between the County of El Dorado and Ridgeview Homes West, LLC.
Contact: Scott Wilson x6050
Concurrences: