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Home My WebLink AboutMINUTES - 08301988 - 1.1 TO: BOARD OF SUPERVISORS FROM: J. MICHAEL WALFORD, PUBLIC WORKS DIRECTOR 1� s DATE: AUGUST 30, 1988 SUBJECT: TRANSFER OF FUNDS FROM TRUST ACCOUNT 8191 TO THE CITY OF SAN RAMON Specific Request(s) or . Recommendation(s) & Background & Justification 1I. RECOMMENDATION Authorize the Public Works Director to transfer $408, 000 to the City of San Ramon from the Bishop Ranch Area of Benefit Fund No. 8191 and to make quarterly disbursements to the City as additional funds are accrued. II. FINANCIAL IMPACT There will be no financial impact to the County General Fund. The money will be drawn from the Bishop Ranch Area of Benefit Fund No. 8191. At the present time, the County is still the custodian of the Bishop Ranch Area of Benefit funds although the area has annexed to the City of . San Ramon. The City has requested this transfer of funds so that they can administer the projects which are now in their jurisdiction. �� c Continued on attachment: X yes S ignaturey��%/G�� Recommendation of County Administrator Recommendation of Board Committee Approve Other: Signature(s) : Action of Board on: August 30 , 1988 Approved as Recommended—,y Other Vote of Supervisors I HEREBY CERTIFY THAT THIS IS A TRUE AND CORRECT COPY OF AN X Unanimous (Absent 3 $ 4 ) ACTION TAKEN AND ENTERED ON Ayes: Noes: THE MINUTES OF THE BOARD OF Absent: Abstain: SUPERVISORS ON DATE SHOWN. Attested August 30 , 1988 Orig. Div. :Public Works (RE) PHIL BATCHELOR, cc: Accounting CLERK OF THE BOARD Auditor OF SUPERVISORS AND County Administrator COUNTY ADMINISTRATOR City of San Ramon JRB:ly BO: 30.t8 By JL,; DEPUTY CLERK III. REASON FOR RECOMMENDATION/BACKGROUND Developments in the Bishop Ranch Area of San Ramon were conditioned to pay traffic mitigation fees for the purpose of constructing specified off-site road improvements. The project list was developed by the County and the City of San Ramon. The circulation improvements for which the funds are designated are within the existing City limits of San Ramon. The City of San Ramon has and will continue to incur costs relating to the design, engineering and construction of the projects. Therefore, they have requested the unallocated balance of fees currently retained by the County for use in the City of San Ramon be remitted to the City to fund these activities. The County has been collecting funds from Bishop Ranch developments since 1985. As of June 30, 1988 we have collected a total of $3 , 661,835. 60 and have earned $204 , 025.74 in interest. We have disbursed $948, 657.. 14 to Blackhawk Corporation - in accordance with the CONTRA COSTA COUNTY REIMBURSEMENT AGREEMENT (CANYON LAKES IMPROVEMENTS) , executed July 14 , 1987, and $937, 992 . 99 to the City of San Ramon per conditions of approval. In addition, $1, 561, 246. 82 was expended to fund road projects in the area. Keeping approximately $10, 000 reserve in the fund to cover our administration costs leaves $408, 000 available to be transferred to the City of San Ramon. We anticipate collecting an additional $1, 356, 514 before the development is built out. About $170, 000 will be sent to Blackhawk as reimbursement. The remaining funds plus interest earned will be sent to the City of San Ramon on a quarterly basis. A summary of the fee area activity is shown in Exhibit A. IV. CONSEQUENCES OF NEGATIVE ACTION All of the projects to be funded with the traffic mitigation fees collected from developments in the Bishop Ranch Area are within the City limits of San Ramon. If the funds are not transferred to the City, projects for which the funds are intended will be delayed. Furthermore, the City has entered into an Escrow Agreement with the State of California for the design and construction of the Crow Canyon Road/I-680 Interchange. This is one of the projects to be funded with the traffic mitigation fees and if the City does not have the funds available in September the project may be delayed indefinitely. EXHIBIT A BISHOP RANCH AREA OF BENEFIT - SUMMARY OF ACTIVITY -CANYON LAKES A. Subdivisions Accessing Alcosta Blvd. Fee = $1000/Dwelling Unit - $625/Unit for the Norris Canyon Overcrossing $375/Unit for area wide projects per the Norris Canyon Overcrossing Reimbursement Agreement Units Units Fees Units Fees Sub.No. Approved Paid Collected Remaining Anticipated 6384 300 300 $300,000 0 $ 0 6546 844 436 $436,000 408 $408,000 6547 238 221 $221,000 17 $ 17,000 6548 268 0 $ 0 268 $268,000 6551 134 134 $134,000 0 $ 0 SUBTOTAL 1,784 1,091 $1,091,000 693 $693,000 DISBURSEMENTS <$ 350,000> to San Ramon for Bollinger Canyon road BALANCE $ 741,000 B. Accessing Crow Canyon Fee = $1000/Dwelling Unit - $250/Unit to San Ramon for the Crow Canyon/I-680 Interchange $650/Unit to Blackhawk for the Crow Canyon Road Extension per Conditions of Approval for the developments Units Units Fees Units Fees Sub.No. Approved Paid Collected Remaining Anticipated 6549 348 348 $348,000 0 $ 0 6550 452 428 $428,000 24 $ 24,000 6552 294 293 $293,000 1 $ 1,000 6654 216 47 $ 47,000 169 $169,000 TOTAL 1,310 1,116 $1,116,000 194 $194,000 DISBURSIIMENTS <$ 837,000> to Blackhawk for Crow Canyon Road Ext. <$ 232,250> to San Ramon for Crow Canyon/I-680 Interchange BALANCE $ 46,750 -CROW CANYON VERMTPES (HOMESTEAD DEV.CO.INC.) Fee = $1050/Dwelling Unit - $250/Unit to San Ramon for the Crow Canyon Interchange per Conditions of Approval $800/Unit to Blackhawk per the Canyon Lakes Reimbursement Agreement Units Fees Fees Sub.No. Approved Collected Anticipated 6368 170 $146,550 $ 31,950 DISBURSIIMENTS <$111,657.14> to Blackhawk per Reimbursement Agreement <$ 24,892.99> to San Ramon for Crow/I-680 Interchange BALANCE $ 9,999.87 -LINCOLN PROPERTIES/SHAPELL Fee = $1000/Dwelling Unit - $350/Unit for Norris Canyon Road Overcrossing per the Norri Canyon Reimbursement Agreement $650/Unit to San Ramon for Alcosta Boulevard Improvements per Conditions of Approval Units Units Fees Units Fees Sub.No. Paid Collected Remaining Anticipated 6331 221 0 $ 0 221 $221,000 6599 416 416 $416,000 0 $ 0 6643 12 0 $ 0 12 $ 12,000 6644 78 0 $ 0 78 $ 78,000 6645 12 0 $ 0 12 $ 12,000 6646 98 93 $ 93,000 5 5,000 TOTAL 837 509 $509,000 328 $328,000 DISBURSEMENTS <.$330,850> to San Ramon for Alcosta Blvd. Improvements BALANCE $178,150 -PACIFIC RIM Fees = $1000/Dwelling Unit, $3.50/Square Foot Office Units Fees Fees Sub.No. Approved Collected Anticipated 3061-85 496 $496,000 $ 0 (Sub 6502) 182,357 SF Office $303;285.60* $109,564 BALANCE $799,285.60 $109,564 * $225,400 Credited to Pacific Rim for off-site road improvements constructed. TOTAL BALANCE $1,775,185.47 INTEREST EARNED 204,025.74 SUBTOTAL $1,979,211.21 PROTECT EXPENDITURES <$1,561,246.82> 'DOTAL $ 417,964.39 COUNTY RESERVE <$ 10,000.00> TOTAL AVAILABLE FOR TRANSFER $ 407,964.39 SUMMARY ACITVITY TO DATE ANTICIPATED ACTIVITY TOTAL FEES COLLECTED $3,661,835.60 FEES TO COLLECT $1,356,514.00 TOTAL IITPERFST EARNED $ 204,025.74 COUNTY RESERVES $ 10,000.00 SUBTOTAL DEPOSITS $3,865,861.34 $1,366,514.00 DISBURSEMENTS TO SAN RAMON <$ 937,992.99> <$1,186,671.14> DISBURSOMIM TO BLACKHAWK <$ 948,657.14> <$ 169,842.86> PROJECT EXPENDITURES <$1,561,246.82> ALMINISTRATION COSTS <$ 101000.00> SUBTOTAL EXPENDITURES <$3,447,896.95> <$1,366,514.00> BALANCE $ 417,964.39 $ 0.00 COUNTY RESERVES <$ 10,000.00> TOTAL AVAILABLE FOR TRANSFER $ 407,964.39 BISRANSUM 8/16/88