Ordinance No. 2157 establishes Impact Fee Service Area No. 1 (IFSA No. 1) and under that Ordinance a capital improvements plan was approved by the City Council for flood control, sanitary sewer, regional parks, and fire station projects to be built in the service area to serve new development.  As building permits are issued, impact fees are collected to finance those capital improvements.  

Lennar Reno, LLC has constructed a portion of the regional trail included in the capital improvements plan for Impact Fee Service Area No. 1 (See Exhibit A of the agreement).  Per the terms of the general administrative manual for IFSA No.1, the developer is entitled to impact fee credits that may be used to pay IFSA No. 1 fees for future building permits within IFSA No. 1.

Upon approval of Impact Fee Credit Agreement No. 24, Lennar Reno, LLC will be granted $93,345 of IFSA No. 1 Parks credits.

The improvements financed with this credit agreement are included in the Capital Improvements Plan for Impact Fee Service Area No. 1.  The civil improvement plans, construction specifications, cost data, and final condition of the work have been reviewed and inspected by the Administrator and have been found acceptable.

1. The City Council may approve Impact Fee Credit Agreement No. 24 as submitted.
2. The City Council may reject Impact Fee Credit Agreement No. 24 and provide direction to the City Manager.

I move to approve Impact Fee Credit Agreement No. 24 between the City of Sparks and Lennar Reno, LLC. including $93,345 impact fee credits that may be used for any future building permits issued within IFSA No. 1.