Title
Planning and Building Department, Planning Division, recommending the Board:
1) Approve the updated Bass Lake Hills Specific Plan (BLHSP) Public Facilities Financing Plan (PFFP) dated December, 2020 and find it consistent with the BLHSP for implementation of the identified public improvements within the specific plan area;
2) Adopt and authorize the Chair to sign Resolution 218-2021 approving the updated BLHSP PFFP; and
3) Direct staff to bring back to the Board actions to approve the updated BLHSP PFFP Fee and Nexus Study.
FUNDING: Developer Funded.
Body
DISCUSSION / BACKGROUND
The purpose of the BLHSP PFFP was to establish a programmatic strategy for the financing of the necessary backbone infrastructure and other public facilities serving the specific plan. The BLHSP was adopted by the Board of Supervisors November 7, 1995. The BLHSP is a master planned development in the El Dorado Hills area that facilitates the orderly and systematic development of the Plan area and ensures that safe and efficient circulation facilities and major infrastructure improvements in the Plan area are constructed concurrently with new development.
This updated PFFP has been prepared to evaluate the public improvement and impact fee cost burden associated with developing the BLHSP. Like most large developments, the advancement of critical infrastructure and public facilities is delivered with the understanding that reimbursements will be available to assist with project feasibility. The feasibility of a project is evaluated by understanding the burden of infrastructure to specific land uses within. Without establishing a financing plan that provides the initial development entities with fee credits and/or reimbursements or other methods of financing, financial burdens can be cost prohibitive to project development. The BLHSP PFFP outlines the timing and amount of infrastructure required for the project and identifies the respective end-users responsible for funding its fair share of the infrastructure. It also includes a comprehensive fee credit and/or reimbursement program that provides for equitable and feasible project development and ensures the efficient and effective implementation of necessary infrastructure.
The attached Staff Memo (Attachment A) provides in greater detail the background information on the original approval of the PFFP, the reasoning for updating the existing PFFP, and the remaining improvements necessary to fully implement the BLHSP and PFFP. The aforementioned memo discusses the specific public facilities that will be improved and the potential strategies and mechanisms for financing those improvements through Land Secured Financing, Development Impact Fees, and Credits and Reimbursements.
Correspondingly, under a separate agenda item and at a later date, an action to establish an updated BLHSP Fee based on the updated PFFP and associated Nexus Study will be brought forward for the Board’s consideration to be applied with issuance of each residential building permit within the specific plan area. Additionally, the Transportation Department is bringing forward an updated BLHSP Plan Fee Credit and Reimbursement Agreement (Legistar # 21-0115) for the reimbursement of related costs of identified improvements within the specific plan area.
ALTERNATIVES
The Board may choose to not accept the documents as written and provide revisions.
PRIOR BOARD ACTION
On June 8, 2004 the Board of Supervisors approved the Bass Lake Hills Specific Plan Public Facilities Financing Plan.
On November 12, 2013 (Legistar number 13-1068, item 28) continued from previous agenda dates August 27, 2013 (item 38) and October 29 (item 23), the Board chose not to approve proposed revisions to the BLHSP PFFP.
On September 19, 2017 (Legistar number 16-0195, item 22) the Board approved Development Agreement DA16-0001 for the Hawk View Residential Project.
On September 19, 2017 (Legistar number 16-0198, item 23) the Board approved Development Agreement DA16-0003 for the Bell Ranch Residential Project.
On September 19, 2017 (Legistar number 16-0199, item 24) the Board approved Development Agreement DA16-0002 for the Bell Woods Residential Project.
On July 17, 2018 (Legistar number 18-1108, item No. 3) the Board approved to Adopt Resolutions 147-2018 and 148-2018 to create the Bass Lake Hills Community Facilities District.
OTHER DEPARTMENT / AGENCY INVOLVEMENT
Transportation Department, Chief Administrative Office Administration and Finance Division, County Counsel
CAO RECOMMENDATION
Approve as recommended.
FINANCIAL IMPACT
Implementation of the Specific Plan will require transportation, sewer, water and other backbone infrastructure and public facilities. The updated BLHSP PFFP details a long-term financing program for the construction of backbone infrastructure and other public facilities.
The buildout cost is estimated to include $17.6 million of improvements included in the County Traffic Impact Mitigation (“TIM”) fee program and $20.5 million of improvement and administrative costs to be financed by the Plan Area Fee. These costs will be paid through the collection of the updated Bass Lake Hills PFFP fee, which will be brought back to the Board for consideration at a later date. As a result, the updated PFFP ensures that the development does not result in an increase in public facilities costs to the County.
CLERK OF THE BOARD FOLLOW UP ACTIONS
1) Clerk to obtain Chair's signature on one (1) original copy of the Resolution.
2) Clerk of the Board will forward three (3) certified copies of the fully executed Resolution to Planning and Building Department, attention Christopher Smith, Planning Division.
STRATEGIC PLAN COMPONENT
Good Governance: Provide, operate and maintain our infrastructure, public facilities, and associated services that protect our community, environment and economic well-being.
CONTACT
Rob Peters, Deputy Director
Planning and Building Department