AgdaPkt 2000-02-14 - Laserfiche WebLink

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Sj) -z. As part of the negotiations, lAC agreed to pay their full fair share traffic impact fee ($745,880 or $4,812/unit plus undetermined SBSA costs) subject to the requirement that construction of the Blomquist roadway extension (the bridge) begin within seven years and be completed within 10 years. If this time frame were not met, lAC would be reimbursed a $385,880 portion of their fee and the City would retain $360,000. lAC argued that 10 years should provide adequate time to complete the project particularly in light of the fact that the traffic impact fees are based on safety concerns or the need for emergency vehicle access. lAC would also get reimbursed $385,880 and the City would retain $360,000 if the Council adopts a Citywide Traffic Ordinance that exempts residential projects from traffic mitigation fees. In addition, the City and lAC agreed to begin the East Bayshore wideninglrestriping work within two years and complete it within three years in order to help provide some immediate traffic congestion relief to the area. It is possible that anticipated development along Bair Island Road might not occur, resulting in insufficient developer mitigation funds to build the emergency bridge crossing. In addition, if the Council decides to adopt a Citywide Traffic Ordinance that includes residential fees, it might decide to charge less for residential development. Because of these and other uncertainties, we have also structured the Traffic Agreement with a floor and a cap to ensure that the City receives no less than $460,000 ($2,967.74/unit) and that the developer's cost risk is limited to $751,750 ($4,850/unit). With a guaranteed sum of $460,000 from lAC, the City will be able to begin the construction of the East Bayshore wideninglrestriping improvements within the near future. This improvement, while not providing secondary access, should help to provide some immediate congestion relief along East Bayshore Road for existing and future residents and businesses. When secondary access to the Bair Island area was last discussed, Council was most interested in a full two-way crossing of Redwood Creek. The total cost of this improvement is estimated at over $7 million. This amount will only be collected if there is development south of Redwood Creek (Redwood City has no control over whether this development will occur) and/or if we obtain matching funds from other public transportation agencies and/or if the Council decides to adopt a Citywide Traffic Ordinance. Alternative Do not approve this agreement and direct staff to renegotiate. This option would prevent the project's Building Occupancy Permit approvals from moving forward on schedule. Due to the complexity of the lAC Traffic Mitigation Fee Agreement (which, among other things, required an additional traffic study for the Marina portion of the project) and lAC's construction schedule, the City Attorney's office felt is would be prudent to allow lAC's development to move forward with Building Permits. However, the Attorney's office advised staff to hold further Building Occupancy Permit approvals until the Traffic Agreement details were worked through and approved by Council. Fiscal Impact There could be a fiscal impact on the City if Bair Island Road developer traffic mitigation funds are insufficient to build the Blomquist Roadway extension and the City can not obtain matching funds from local, state or federal transportation agencies. In addition, the City could lose up to $385,880 of lAC's fees if construction of the Blomquist Roadway extension does not begin within seven years or if the Council adopts a Citywide Traffic Ordinance that exempts residential projects from having to pay traffic mitigation fees. Finally, if the ..~_._.__.- ----T'