HomeMy WebLinkAbout2006-09-12; City Council; Resolution 2006-2681
RESOLUTION NO. 2006-268
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A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
3 CARLSBAD, CALIFORNIA, AUTHORIZING APPROPRIATION OF
FUNDS AND PROCESSING A REIMBURSEMENT PAYMENT FOR
4 RANCHO SANTA FE ROAD SOUTH IMPROVEMENTS (CT 90-03).
5 WHEREAS, Continental Residential, Inc. (Developer), has submitted a request for a
6 reimbursement payment in accordance with the Reimbursement Agreement for Rancho Santa Fe
7 Road South Improvements associated with Carlsbad Tract CT 90-03 approved per City Council
8 Resolution 2001-52; and
WHEREAS, the Developer completed road widening improvement to Rancho Santa Fey
Road South along the frontage of the development project known as Shelley Subdivision,
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CT 90-03 as shown on City drawing 380-1K; and
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WHEREAS, in accordance with the Reimbursement Agreement the Developer
12 submitted, to the City, audit materials documenting eligible project costs; and
13 WHEREAS, the City performed an audit of the materials and has determined a total
14 eligible project cost of $4,219,898.71; and
15 WHEREAS, per the Agreement subtracting the Rancho Santa Road improvement credit
16 $2,234,500 from the total project costs results in a reimbursement payment of $1,985,398.71; and
17 WHEREAS, the City Engineer approves the audit and reimbursement payment of
18 $1,985,398; and
WHEREAS, this payment represents the final reimbursement payment satisfying thei y
terms of the Reimbursement Agreement, and20
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Carlsbad,
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California, as follows:
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1. That the above recitations are true and correct.
23 2. That an appropriation of $635,398.71 from the Rancho Santa Fe Road fund is
O/l approved.
25 3. That the Finance Director is hereby authorized to process a reimbursement
26 payment of $1,985,398.71 made to Continental Residential, Inc.
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PASSED, APPROVED AND ADOPTED at a Regular Meeting of the City Council
of the City of Carlsbad on the 12th day of September, 2006, by the following vote:
AYES: Council Members Lewis, Hall, Kulchin, Packard, Sigafoose
NOES: None
ABSENT: None
CLAUDE A LEWIS, Mayor
ATTEST:
(SEAL)
E M. WOOD, City Clerk