RESOLUTION R2024-XX
RESOLUTION APPROVING AMENDMENT NO. 3 TO THE IMPROVEMENT AGREEMENT FOR VILLA TICINO WEST UNIT NO. 1, TRACT 3567 AND AMENDMENT NO. 1 TO THE IMPROVEMENT AGREEMENT FOR VILLA TICINO WEST UNIT NO. 3, TRACT 4124, MODIFYING SCHEDULE B, SECTION II-1.A AND SECTION II-2.A, P.F.I.P. CREDITS AND REIMBURSEMENTS TO ALLOW P.F.I.P. REIMBURSABLE CREDITS TO BE SPREAD ACROSS THE ENTIRE VILLA TICINO WEST PROJECT WHEREAS, on May 17, 2022, the City of Manteca and JEN California 23, LLC, entered into an Improvement Agreement for Villa Ticino West Unit No. 1, Tract 3567 (C2022-63) with an Estimated Total Cost of Improvements of $8,619,391.94; and WHEREAS, the Improvement Agreement for the Villa Ticino West Unit No. 1, Tract 3567 (C2022-63) included Schedule B, Public Facilities Implementation Plan (P.F.I.P.), that identified Credits and Reimbursements, including Transportation System, Table 1: Transportation System P.F.I.P. Reimbursement in the amount of $627,928.68, and Sewer Collection System, Table 2: Water Distribution System P.F.I.P. Reimbursement in the amount of$1,419,336.00, Table 3: Sewer Collection System, Financing Zone 22 P.F.I.P. Reimbursement in the amount of$1,419,336.00; and WHEREAS, on March 2, 2023, the City of Manteca executed Amendment No. 1 to the Improvement Agreement for Villa Ticino West Unit No. 1, Tract 3567, modifying SCHEDULE B, Transportation System, Table 1, Transportation System P.F.I.P. Reimbursement, increasing the amount from $627,928.69 to $638,357.50; modifying SCHEDULE B, Sewer Collection System, Table 3, Sewer Collection System, Financing Zone 22 P.F.I.P. Reimbursement, increasing the amount from $1,419,336.00 to $2,276,640.00; and WHEREAS, on October 26, 2023, the City of Manteca executed Amendment No. 2 to the Improvement Agreement for Villa Ticino West Unit No. 1, Tract 3567, modifying SCHEDULE B, Transportation System, Table 1: Transportation System P.F.I.P. Reimbursement, increasing the amount from $638,357.50 to $1,036,899.50; modifying SCHEDULE B, Sewer Collection System, Table 3: Sewer Collection System P.F.I.P. Reimbursement, increasing the amount from $2,276,640.00 to $3,729,806.73; and WHEREAS, on December 21, 2023, the City of Manteca and JEN California 23, LLC, entered into an Improvement Agreement for Villa Ticino West Unit No. 3, Tract 4124 (C2023-178) with an Estimated Total Cost of Improvements of $9,226,628.59; and WHEREAS, the Improvement Agreement for the Villa Ticino West Unit No. 3, Tract 4124 (C2023-178) included Schedule B, Public Facilities Implementation Plan (P.F.I.P.), that identified Credits and Reimbursements, including Transportation System, Table 1: Transportation System P.F.I.P. Reimbursement in the amount of $1,657,466.30, and Water Distribution System, Table 2: Water Distribution System P.F.I.P. Reimbursement in the amount of $65,002.64; and WHEREAS, the Improvement Agreement for the Villa Ticino West Unit No. 1, Tract 3567 (C2022-63) P.F.I.P. Credits and Reimbursements, Transportation System Section 1.A, states that: “The credit will be given when building permits are issued for the construction of residences within the Villa Ticino West Unit No. 1.” and, P.F.I.P. Credits and Reimbursements, Sewer Collection System Section 2.A, states that: “The credit will be given when building permits are issued for the construction of residences within the Villa Ticino West Unit No. 1.”; and WHEREAS, the Improvement Agreement for the Villa Ticino West Unit No. 3, Tract 4124 (C2023-178) P.F.I.P. Credits and Reimbursements, Transportation System Section 1.A, states that: “The credit will be given when building permits are issued for the construction of residences within the Villa Ticino West Unit No. 3.”, and P.F.I.P. Credits and Reimbursements, Water Distribution System Section 2.A, states that: “The credit will be given when building permits are issued for the construction of residences within the Villa Ticino West Unit No. 3.”; and WHEREAS, in light of the previous Recitals, the City of Manteca and JEN California 23, LLC, desire to amend the Improvement Agreement for the Villa Ticino West Unit No. 1, Tract 3567 (C2023-63) and Villa Ticino West Unit No. 3, Tract 4124 (C2023-178) to allow for the P.F.I.P. credits to be spread across the entire Villa Ticino West Project rather than be limited to Unit No 1. and Unit No. 3, respectively; and WHEREAS, the City Council has considered all information related to this matter as presented at the public meetings of the City Council identified herein, including any supporting reports by City Staff and any information provided during public meetings.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Manteca, as follows:
1. The City Council hereby finds that the facts set forth in the recitals to this Resolution are true and correct and establishes the factual basis for the City Council’s adoption of this Resolution.
2. The City Council hereby approves Amendment No. 3 to the Improvement Agreement for Villa Ticino West Unit No. 1, Tract 3567 and Amendment No. 1 to the Improvement Agreement for Villa Ticino West Unit No. 3, Tract 4124 modifying Schedule B Section II-1. A and Section II-2. A, “P.F.I.P. Credits and Reimbursements” to allow P.F.I.P. reimbursable credits to be spread across the entire Villa Ticino West Project.
3. The City Council hereby authorizes the City Manager to sign and take all necessary steps to effectuate the amendment.
4. This Resolution shall take effect immediately upon its adoption.
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the City Council of the City of Manteca at a public meeting of said City Council held on the 4th day of June 2024, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
MAYOR: __________________________
GARY SINGH
Mayor
ATTEST: __________________________
CASSANDRA CANDINI-TILTON
City Clerk
ATTACHMENT 1
R2024-XX Page PAGE 1 of NUMPAGES 2 June 4, 2024
ATTACHMENT 1
R20XX-XX Page PAGE 1 of NUMPAGES 2 Type approved date of resolution here