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HomeMy WebLinkAboutMINUTES - 11062007 - C.17 .�, .• SEL C �ra�: TO: BOARD OF SUPERVISORS F"OM: MAURICE M. SHIU PUBLIC WORKS DIRECTOR C o stae . DATE: November 6, 2007 \ s7'4 COUN'� County SUBJECT: APPROVE disbursement of funds from the Dougherty Valley CSA M-29 Capital Reserve Fund, San Ramon (Dougherty Valley) area. (District III) SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION RECOMMENDED ACTION: APPROVE disbursement of 52.36 million from the Dougherty Valley CSA M-29 Capital Reserve Fund per the "Memorandum of understanding between Contra Costa County, the City of San Ramon, Shapell Industries and Windemere Ranch Partners Relating to the Development of Dougherty Valley" approved January 8, 1998, to Windemere BLC Land Company, LLC. FISCAL IMPACT: There is no impact to the County General Fund. The CSA M-29 Capital Reserve Fund was set up to partially reimburse the developers for the costs of capital facilities. Windemere BLC Land Company, LLC has completed -)nstruction of the Dougherty Valley Community Center, Police Substation, and Library and is requesting these riunds. The balance in the account exceeds the current request for funds. l CONTINUED ON.ATTACHMENT: ID SIGNATURE: r% RECOMME\DATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF p6ARUt.-0 LA3ITTEE APPROVE OTHER SIGNATURE(S): ACTION OF BOAF D T, ��IG�r�l�ii��r/_ P^PPROVED AS RECOMMENDED OTHER VOTE OF SUPERVISORS: I HEREBY CERTIFY THATTFIIS IS A TRUEANDCORRECT / COPY OF AN ACTION TAKEN AND ENTERED ON ✓ UNANIMOUS(ABSENTMINUTES OF THE BOARD OF SUPERVISORS ON THE Al'ES: NOES: DATE SHOWN. ABSENT: ABSTAIN: Contact: Kevin Emigh(313-3333) I-113:d G:\EngSvc'.BO';2007\I 1-06\BO-CSAN129 FY0 7-06.doc ATTESTED �de'V"IPe- Y 404, Oriu,Dept.: Public Works(Admin Services) JOHN CULLEN,CLERK OF THE BOARD OF SUPERVISORS C: County Administrator Auditor-COnV0IIer Cit_v of San Ranson Finance Director BY: DEPUTY SUBJECT: APPROVE disbursement of funds from the Dougherty Valley CSA M-29 Capital Reserve Fund, San Ramon(Dougherty Valley) area. (District III) DATE: November 6, 2007 PAGE: 2 of 2 REASONS FOR RECOMMENDATIONS AND BACKGROUND: The Capital Reserve Fund is comprised of surplus monies from CSA M-29, set aside for the funding of community facilities such as the Dougherty Valley Conununity Center,Police Station,and Library. The fund receives its money at the end of every fiscal year. If there is any surplus of the tax/assessment monies after all budgeted general maintenance for that year is complete, the money goes into the Capital Reserve Fund and can only be used for community facilities. The distribution of the monies is outlined in the"Memorandum of Understanding between Contra Costa County, the City of San Ramon, Shapell Industries and Windemere Ranch Partners relating to the development of Dougherty Valley". The Memorandum of Understanding was approved by the Board on January 8, 1998. The funds are used to offset each Developer's obligation as also outlined in the Settlement Agreement and Development Agreements for Dougherty Valley. These obligations are determined based on a percentage of the total number of units built by each developer. Shapell Homes has provided a letter of concurrence for the release of the funds, as also required by the Memorandum of Understanding. CONSEQUENCES OF NEGATIVE ACTION: The developer, Windemere BLC Land Company,LLC will not receive disbursements from the CSA M-29 Capital Reserve Fund as agreed to under terms of the Memorandum of Understanding.