Title
Transportation Department recommending the Board authorize the Chair to sign the following pertaining to the Missouri Flat Road/Golden Center Drive Traffic Signalization Project:
1) Reimbursement Agreement for the Engineering of the Traffic Signals and Acquisition of Related Appurtenances at the Intersection of Missouri Flat Road and Golden Center Drive between the County and Granite Grado Ventures - Project I, LLC; and
2) Assignment and Assumption of Plans and Specifications - "Project Plans for the Construction of Missouri Flat Road / Golden Center Drive Traffic Signalization."
FUNDING: Zones 1-7 of the 2004 General Plan Traffic Impact Mitigation Fee (West Slope TIM) fund.
Body
BUDGET SUMMARY:
Total Estimated Cost $74,000
Funding
Budgeted $74,000
New Funding $
Savings $
Other $
Total Funding Available $74,000
Change To Net County Cost $0.00
Fiscal Impact/Change to Net County Cost:
Payments to be made according to this reimbursement agreement total approximately $74,000 and are to be paid on a four-year schedule where the first payment includes a catch-up payment for three years of payments for a total of approximately $55,500. The remaining annual payment will be paid within 30 days of June 5, 2010 and will equal approximately $18,500. Funding for this reimbursement has been included in the 2010 CIP and is programmed in the Zone 1-7 2004 General Plan Traffic Impact Mitigation (West Slope TIM). There is no Net County Cost.
Background:
The El Dorado County Board of Supervisors approved the "County of El Dorado Department of Transportation Guidelines for Road Impact Fee/Traffic Impact Mitigation Fee Reimbursement Projects" (Guidelines) on January 23, 1996. Section 7.0 of these Guidelines specified reimbursement terms of four years (25% annual payments) for projects that were on the 5-year Capital Improvement Program ("CIP") and constructed by developers. These guidelines were ...
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