Sparks City Council Meeting 5/26/2015 2:00:00 PMTuesday, May 26, 2015 2:00 PM
Council Chambers, Legislative Bldg, 745 4th St., Sparks
Consent Items: 8.5
A Business Impact Statement is not required because this is not a rule.
This Agreement is entered into for the Impact Fee Service Area #1(IFSA#1) impact fee credit program. Impact Fee Agreement #25 is a master agreement that will allow KM2 Development Inc to participate in the impact fee program. This agreement has been reviewed by the Impact Fee administrator and the City Attorney's Office and has been found acceptable. Staff recommends approval.
This agreement is the City's standard master form agreement and establishes the administrative rules for the use of impact fee credits within Impact Fee Service Area #1. KM2 Development Inc will be utilizing impact fees purchased from an existing Impact Fee Credit Agreement.
There is no analysis included with this agreement as it simply allows a new credit owner to use those credits in conjunction with development located within the boundary of Impact Fee Service Area #1.
The City Council could chose to deny the agreement and provide the City Manager with alternative direction.
I move to approve Impact Fee Agreement #25 with KM2 Development Inc as recommended by Staff.
IFA 25 KM2 Development.pdf