HomeMy WebLinkAboutPCDC Resolution 2008-07 10/06/2008RESOLUTiOIV tVO. 2008-07
PETALUMA COMMUNITY ®EVELOPMENT COMMISSION
RESOLUTION APPROVING THE FUNDING PLAN
FOR RAINIER AVENUE CROSSTOWN CONNECTOR AND INTERCHANGE PROJECT
(ALL PHASES OF PROJECT DEVELOPMENT THROUGH CONSTRUCTION)
WHEREAS, completing the Rainier Avenue Cross-Town Connector and Interchange
improvement component of Caltrans' Marin/Sonoma Narrows Segment C HOV Lane Project,
concurrently with the larger project, will result in earlier receipt of project benefits, cost
efficiencies, reduction of traffic disruption and shorter construction durations; and,
WHEREAS, the Rainier Avenue Cross-Town Connector and Interchange Project ("the
Project") is funded from $lOM City/PCDC funding; and,
WHEREAS, the total Project cost is estimated between $75M and $109M; and,
WHEREAS, the Project requires additional funds between $48.1 M to $79.4M; and,
WHEREAS, the General Plan identifies the Rainier Avenue Cross-Town Connector and
Interchange as a needed transportation improvement for the City of Petaluma, and as such,
has identified it in the City's traffic impact fee schedule; and,
WHEREAS, Petaluma City Council Resolution No. 2008-095 N.C.S., adopted on May 19,
2008, establishes a traffic impact fee for future development in the City based in part on the
costs of the Rainier Avenue Cross-Town Connector and Interchange as estimated for the
"Caltrans preferred alternative," identified in the Fehr & Peers City of Petaluma Traffic Mitigation
Fee Program Update dated May, 2008 ("Cost Study") as having an estimated Net City Cost,
after other funding, of $79,500,000, to be paid by a Traffic Development Impact Fee; and,
WHEREAS, .Petaluma City Council Resolution No. 2008-095 N.C.S. also provides that if a less
expensive alternative for the Rainier Avenue Cross-Town Connector and Interchange is selected,
the portion of any Traffic Development Impact Fee collected for the improvements prior to the
selection and approval of a less expensive alternative which exceeds the applicable fee based
on the less expensive alternative will be refunded to the payor; and,
WHEREAS, the Petaluma Community Development Commission ("PCDC") Five-Year
Implementation Plan ("Implementation Plan") for the Central Business District ("CBD") and
Petaluma Community Development ("PCD") areas (collectively, the "Project Areas") as
adopted by the PCDC on June 1 1, 2007 identifies the transfer of certain specified tax increment
funds for the purpose of funding Rainier Avenue Cross-Town. Connector and Interchange Project
improvements as more particularly described in the Implementation Plan, including the Project.
NOW, THEREFORE, BE IT RESOLVED, by the Petaluma Community Development
Commission as follows:
PCDC Resolution 2008-07 Page 1
1. Based upon the foregoing, the Petaluma Community Development Commission
hereby approves the funding plan for the Project as outlined below.
Summary Table of Costs for each Alternative
Alternative Impact Fee
Com onent Development
Com onent PCDC
Com onent Estimated Total Cost
i
1 zero zero zero Budget expended to-date
2 $48.1 Million $16.9 Million $10 Million $75 Million
3 $51 .0 Million $16.9 Million $10 Million $78 Million
4 $79.4 Million $19.6 Million $10 Million $109 Million
5 $28.0 Million zero $10 Million $38 Million
ADOPTED this 6h day of October, 2008, by the following vote:
Commissioner Aye No Absent Abstain
Barrett X
Freitas X
Harris X
Nau X
O'Brien X
Vice Chair Rabbitt X
Chair Torliatt X - ~
ATTEST:
Claire Cooper, CMC, Recor ing Secretary
_~ / ~ .~~
Pam la Torliatt, Chair -. =
APPROVED AST FORM:
~,N
Eric Danly, Genercil Counsel
PCDC Resolution 2008-07 Page 2