Body
Department of Parks and Recreation
Reference: Resolution enacting the provisions of the Intergovernmental Agreement with Brighton Crossing Metropolitan District No. 4 regarding the reimbursement of park development fees for the construction of two neighborhood parks, Tracts C and F in the amount of Six Hundred Sixteen Thousand Two Hundred Seventy Nine Dollars and Fifty Nine Cents ($616,279.59); Authorizing the 2017 Budget Amendment in the amount of Three Hundred Ten Thousand Six Hundred Forty Dollars (310,640); and setting forth other details related thereto.
To: Mayor Richard N. McLean and Members of City Council
Through: Philip Rodriguez, City Manager
Prepared By: Gary Wardle, Director Parks and Recreation
Date Prepared: November 21, 2017
PURPOSE
Resolution enacting the provisions of the Intergovernmental Agreement with Brighton Crossing Metropolitan District No. 4 regarding the reimbursement of park development fees for the construction of two neighborhood parks, Tracts C and F in the amount of Six Hundred Sixteen Thousand Two Hundred Seventy Nine Dollars and Fifty Nine Cents ($616,279.59); Authorizing the 2017 Budget Amendment in the amount of Three Hundred Ten Thousand Six Hundred Forty Dollars (310,640); and setting forth other details related thereto.
BACKGROUND
On December 12, 2007 the City of Brighton and the District entered into an intergovernmental agreement regarding the collection of the fees for the design and construction of neighborhood and community parks in the District. The IGA required the City to collect the park development fees for the District and then reimburse the District for the cost to design and construct the parks in the district once the parks were completed and the district submitted documentation to the City for the cost of construction of the parks.
In 2017, the District has constructed two neighborhood parks in Filing 2, Tract C and Tract F. The total cost for the construction of the two parks is $616,279.59. The City has collected $310,640 in park development fees for the construction of these two parks. The attached resolution appropriates the funds and authorizes the City to reimburse the District for the cost to construct the two parks from park development fees collect and to use park development fees collected in the future to complete the reimbursement of the district for the construction of these two parks.
FINANCIAL IMPACT
The City has collected park development fees in the amount of $310,640.00 through October 31, 2017 from the residential development in the Brighton Crossing Metropolitan District No. 4. These funds ae available to reimburse the District for the Construction of the two Parks in Filing 2, Tract C and Tract F.
STAFF RECOMMENDATION
Staff Recommends Approval of the Resolution
OPTIONS FOR COUNCIL CONSIDERATION
1. Approve the Resolution
2. Not approve the Resolution
ATTACHMENTS
1. Resolution