2021 2:00:00 PM

Meeting Link: https://zoom.us/s/91208736348
Meeting Dial-in #: 1-669-900-6833 Meeting ID: 912 0873 6348

General Business: 9.4

Title: Consideration, discussion, and possible approval of Impact Fee Credit Agreement No. 25 (AC-5735) between the City of Sparks and D.R. Horton, Inc., granting $262,394.49 impact fee credits that may be used for any future Regional Parks and Recreation impact fees within Impact Fee Service Area No. 1.

Petitioner/Presenter: John A. Martini, P.E., Assistant City Manager/Jon R. Ericson, P.E., P.T.O.E., City Engineer

Recommendation: Staff recommends the City Council approve the Impact Fee Credit Agreement.

Financial Impact: There is no general fund impact. If approved, IFSA No. 1 credits will be issued to D.R. Horton, Inc.

Business Impact (Per NRS 237):
A Business Impact Statement is not required because this is not a rule.

Agenda Item Brief:

D.R. Horton, Inc., has constructed a portion of the regional trail included in the capital improvements plan for Impact Fee Service Area No. 1 (IFSA No. 1). According to 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. Should Impact Fee Credit Agreement No. 25 be approved by the Council, D.R. Horton, Inc. will be granted $262,394.49 of IFSA No. 1 Regional Parks and Recreation credits that may be used to pay any future Regional Parks and Recreation fees within IFSA No 1.

Background:

Ordinance No. 2157 establishes Impact Fee Service Area No. 1 (IFSA No. 1), and City Council approved a capital improvements plan 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.

D.R. Horton, Inc., has constructed a portion of the Spanish Springs Regional Trail, which was included in the capital improvements plan for IFSA No. 1 (see Exhibit A of the agreement). According to the general administrative manual for IFSA No.1, a developer that constructs a portion of a project is entitled to impact fee credits that may be used to pay future IFSA No. 1 fees.

Upon approval of Impact Fee Credit Agreement No. 25, D.R. Horton, Inc., will be granted $262,394.49 of IFSA No. 1 Regional Parks and Recreation fee credits.

Analysis:

The improvements financed with this credit agreement are included in the capital improvements plan for IFSA 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.

Alternatives:

1. Council may approve Impact Fee Credit Agreement No. 25 (AC-5735) as submitted.

2. Council may reject Impact Fee Credit Agreement No. 25 (AC-5735) and provide direction to the City Manager.

Recommended Motion:

I move to approve Impact Fee Credit Agreement No. 25 (AC-5735) between the City of Sparks and D.R. Horton, Inc., granting $262,394.49 impact fee credits that may be used for any future Regional Parks and Recreation impact fees within IFSA No. 1.

Attached Files:

02 - IFCA#25 - IFA #30 - Recorded Doc.pdf

03 - IFCA#25 - Const&DedicationProv(5-18).pdf

04 - IFCA #25 KRN Ph 7 Vill 9 - Construction Cost.pdf

01 - IFCA#25 - Agreement Signed.pdf

Previous Item

Next Item

Return To Meeting