AgdaPkt 2009-05-18 - Laserfiche WebLink

Browse Search

." ,- - - - ---..-----. ---....-- --- .--- -- . ------ ---- _._~ ~ - --- - -.- - - ------ -- - - --- - - -- ~ ----- - - - - - - - - - . - - - -- - - DATE: October 28, 1996 SUBJECT: Financing Options for the Laurel Way Environmental Impact Report . RECOMMENDATION: That the City Council review and discuss the financing options available for the preparation of an Environmental Impact Report for the Laurel Way:subdivision, and determine the City's financial contribution, if any. BACKGROUND: On September 16, 1996, the City Council reviewed the,appeal of the decision by the Zoning Administrator to deny four variances to a;>nstruct a 2,100 square foot house at 3738 Laurel Way. The Council denied the appeal and upheld the policy of requiring an Environmental Impact Report (EIR) prior to any development on Laurel Way. They also directed staff to explore alternative mechanisms for funding the EIR, with the possibility of the City contributing a portion of the ElR costs. Staff did obtain an estimate of approximately $80,000 to prepare the EIR.l It alsO determined that it would cost approximately 5550,000 to construct street improvements for the entire portion of Laurel Way as proposed by the 1971 Improvement Plan. For the purpose of this preliminary report staff is only focusing on the EIR financing since roadway improvements could change based on recommendations of the EIR. This report presents an overview of several financing options available to pay for the EIR. Staff is seeking some direction on the following issues: 1) The type of financing mechanism that should be established to fund the EIR (reimbursement agreement, traditional assessment district, improvement district, or voluntary agreement). 1 The $80.000 is an approximate COSl for the EIR as estimated by a local consultant. The cost may be different once the actual scope of work is finalized any L ~~erpl consul\IDlS S~~'iPit ~~s.