775-353-5555
431 Prater Way Sparks, NV United States
Instagram link
Twitter link
EN 
Sparks City Council Meeting 3/11/2013 2:00:00 PM
Monday, March 11, 2013 2:00 PMSparks Council Chambers, 745 4th Street, Sparks, NV
Consent Items: 5.7
Title: Consideration and possible approval of Impact Fee Agreement #20 with Lewis Investment Company of Nevada, LLC to allow for participation and use of credits in the Service Area Number 1 Impact fee program.
Petitioner/Presenter: John A. Martini, P.E., Assistant Community Services Director/John A. Martini, P.E., Assistant Community Services Director
Recommendation: Staff recommends that the City Council approve the agreement as submitted.
Financial Impact: There is no general fund impact. Approval of this agreement will allow Lewis Investment Company of Nevada, LLC to use purchased IFSA#1 Impact Fee Credits.
Business Impact (Per NRS 237):
A Business Impact Statement is not required because this is not a rule.
A Business Impact Statement is not required because this is not a rule.
Agenda Item Brief: This Agreement is entered into for the Impact Fee Service Area #1(IFSA#1) impact fee credit program. Impact Fee Agreement #20 is a master agreement that will allow Lewis Investment Company of Nevada, LLC 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.
Background: This agreement is the City's standard master form agreement and establishes the adminstrative rules for the use of impact fee credits within Impact Fee Service Area #1. Lewis Investment Company of Nevada, LLC will be utilizing impact fees purchased from an existing Impact Fee Credit Agreement.
Analysis: 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 service area.
Alternatives: The City Council could chose to deny the agreement and provide the City Manager with alternative direction.
Recommended Motion: "I move to approve Impact Fee Agreement #20 with Lewis Investment Company of Nevada, LLC as recommended by Staff."
Attached Files:
Lewis Investment Impact Fee Agreement No. 20.pdf
