HomeMy WebLinkAbout1998-12-01; City Council; 14952; Carlsbad Company Stores Traffic SignalCITY OF CARLSBAD -AGENDA BILL
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WTG. 12101198
3EPT. ENG
TITLE- --
APPROVAL OF A LUMP-SUM REIMBURSEMENT TO
CRAIG REALTY GROUP FOR COST OF A TRAFFIC
SIGNAL INSTALLED AT THE INTERSECTION OF
CANNON ROAD AND PASEO DEL NORTE I
RECOMMENDED ACTION:
Adopt Resolution No. 98 -390 approving an immediate lump sum reimbursement to Craig Realty Group for cost of a traffic signal at the intersection of Cannon Road and Paseo Del Norte.
ITEM EXPLANATION:
As a condition of approval for the development of the Carlsbad Company Stores (SDP 96-03), the
applicant, Craig Realty Group, was required to install a traffic signal at the intersection of Cannon Road
and Paseo del Norte. The traffic signal installation had been approved as part of the 1997-98 Capital
Improvement Program budget to be funded by Public Facilities Fees. Since this private development
preceded the City’s installing the signal, the developer was required to install the signal and be
reimbursed by the City for costs incurred.
Staff has reviewed the applicants request and recommends that the City Council authorize the Finance
Director to reimburse Craig Realty Group for costs of the signal installation in the amount of
$98,943.00.
FISCAL IMPACT:
Funds in the amount of $94,943.00 are available in Account Number 320700009060-900 to
reimburse the applicant for cost of installing the traffic signal at Cannon Road and Paseo del Norte.
EXHIBITS: NO. w
1. Resolution<pproving a lump-sum reimbursement to Craig Realty Group for cost of a traffic signal installed at the intersection of Cannon Road and Paseo Del None.
2. Letter from Craig Realty Group.
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RESOLUTION NO. W-390
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARLSBAD, CALIFORNIA, APPROVING IMMEDIATE LUMP SUM
REIMBURSEMENT TO CRAIG REALTY GROUP FOR COST OF
A TRAFFIC SIGNAL AT THE INTERSECTION OF CANNON
ROAD AND PASEO DEL NORTE.
WHEREAS, the Craig Realty Group, as a condition of approval for the development of the
Carlsbad Company Stores, did complete the installation of the traffic signal at the intersection of
Cannon Road and Paseo Del Norte; and
WHEREAS, the Craig Realty Group has submitted detailed accounting records, verified
by City Staff, which show that the total audited cost to install the signal was $98,943.00; and
WHEREAS, adequate funds currently exist within Account Number 320700009060-900 to
reimburse the developer for the installation of the traffic signal.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Carlsbad,
California, as follows:
I. That the above recitations are true and correct.
2. That the Finance Director is hereby directed to make an immediate one-time
reimbursement to the Craig Realty Group in the amount of $98,943.00 for the installation of the
traffic signal.
PASSED, APPROVED AND ADOPTED at a regular meeting of the Carlsbad City Council
held on the 1st day of December , 1998 by the following vote, to wit:
AYES: Council Members Lewis, Nygaard, Finnila, Kulchin & Hall
NOES: None
II ATTEST:
(SEAL)
h Exhibit 2
CRAIG RE.ALN GROUP
October 12, 1998
Ms. Nanci Plouffe
City of Carlsbad
2075 Las Palmas Drive
Carlsbad, CA 92009-l 576
Via Facsimile and U.S. Mail
RE: Carlsbad Company Stores - Reimbursement for Cost of Traffic Lights
Installed at the Intersection of Cannon Road and Paseo de1 Norte
Dear Nanci:
This letter is written to confirm the acceptance by Craig Realty Group - Carlsbad, LLC of
the determination made by the City of Carlsbad that the expenditures eligible for
reimbursement relating to the installation of the traffic signal at the intersection of
Cannon Road and Paseo de1 Norte equals $98,943.
Please immediately begin the next step in the reimbursement process.
Thank you for your assistance.
Sincerely, <
a- #
Craig\CatlsbadPlouffel.012
1500 Quail Street, Suite 100, Newport Beach, California 92660
714. 224-4100 Fax: 714.224-4101 3