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Sparks City Council Meeting 9/12/2016 2:00:00 PM
Monday, September 12, 2016 2:00 PMCouncil Chambers, Legislative Bldg, 745 4th St., Sparks, NV
General Business: 9.3
A Business Impact Statement is not required because this is not a rule.
On May 9th, 2016, the Sparks City Council approved Amendment No.1 of the 5th Edition of the Regional Road Impact Fee General Administrative Manual (GAM) which allowed for the extension of the expiration date of existing Capital Contribution Front Ending Agreement (CCFEA) Credits by ten (10) years beyond current expiration dates. Per the terms of amendment No. 1 of the 5th edition GAM, the RTC provided legal notice to holders of CCFEA Credits and provided an offer to extend the terms of the credit expiration by 10 years. Nineteen (19) CCFEA Credit holders within the City of Sparks requested extension and signed CCFEA amendment agreements (see attachment A of RTC letter dated August 23, 2016, attached).
The CCFEA amendment agreements were approved by the RTC Board on August 19, 2016 (attached).
Staff recommends approval.
Background:
See RTC letter dated August 23,2016 (attached).
Analysis:
Approval of the amended CCFEA'ss will extend the RRIF CCFEA credits by 10 years beyond their current expiration dates for nineteen (19) credit holders within the City of Sparks.
Alternatives:
1. The City Council could approve the proposed amendments as submitted by Staff
2. The City Council could reject the proposed amendments and provide direction to the City Manager.
Recommended Motion:
"I move to approve the amendment to nineteen (19) Regional Road Impact Fee Capital Contribution Front Ending Agreements (CCFEA) for the extension of credit expiration dates as submitted by staff"
Attached Files:
August 23 2016 Letter from RTC-CCFEA extension request.pdf RTC Board approved CCFEA amendment documents.pdf
