AgdaPkt 2000-02-14 - Laserfiche WebLink

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s- ])50 Impact of Time on Roadway Construction Costs It could take several years to collect the funds necessary to construct the Blomquist roadway extension. As time passes, inflation will continue to increase the cost of the road/bridge construction. C. Current Status of Traffic Mitigation Agreements (as of December '99): On July 27, 1998, the City Council approved K&B's Traffic Agreement. K&B paid their 'fair share' (6% of$3.7 million) for the one-lane Blomquist extension and (6% of $630,000) East Bayshore Road widening/restriping improvements. They also agreed to pay a proportionate share (6%) of 'yet to be determined' roadway realignment costs and inflationary costs (based on the Construction Price Index) for a two-year period (or for the length of time of the Corps permit extension, April 15, 2000). Irvine Apartment Communities (lAC) has expressed concern over their ability to pay the "fair share" traffic impact fees outlined by the Fehr and Peers traffic consultant. In particular, they questioned the standards used by Fehr and Peers to determine the traffic impact (and related fee) relevant to the marina portion oftheir project. To address IAC's concern, staff asked lAC to pick two comparable marinas (to be approved by the City) for our traffic consultant to analyze. We indicated that we would be willing to renegotiate IAC's "fair share" marina traffic mitigation costs based on the outcome of this study. By Fall of 1998 lAC selected Redwood City's Peninsula Marina and South San Francisco's Oyster Point Marina for a comparable marina study? lAC ultimately negotiated to remove their marina's trip genera- tion rate entirely from their Traffic Mitigation Fee. AmeriSuites - In the fall of 1998, AmeriSuites submitted plans for a 152-suite hotel. In early 1999, AmeriSuites made a business decision to withdraw all applications within California and throughout the northwest, including their application with Redwood City. Pete Uccelli Site - While many developers have shown interest in the Uccelli site, no applications have been submitted. However, staff has recently met with and provided information to a broker for the Uccelli site. Peninsula Marina Office Space - No permits have been issued. Staff previously anticipated 20,000 square feet of new office space on the Peninsula Marina site; however, the application was dropped. CONCLUSION: In short, undetermined project costs (SBSA force main), the possible need for an amended Corps permit, the possibility of no projects occurring on the Uccelli, Peninsula Marina or AmeriSuite sites and reduced traffic mitigation fees from lAC (marina traffic mitigation) could impact our ability to build and finance the one-lane Blomquist roadway extension. In addition, development south of Redwood Creek may never occur, reducing our ability to finance a two- lane Blomquist roadway. 2 October 26, 1998, Ferh and Peers completed the Marina Trip Generation Surveys. The study found a 2.3 average weekday trip generation per berth. - .. 'H"""__'." '----Y" '