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HomeMy WebLinkAboutConsent Calendar #5 8-17-87#..~.,,~G 'r' ~, ~. ~ ~ CONSENT CALENDAR ! % ,{A _ N0. 5 , DATE: AUGUST 17, 1987 TO: WILLIAM HUSTON, CITY MANAGER FROM: PUBLIC WORKS DEPARTMENT/ENGINEERING DIVISION SUBJECT: JAMBOREE ROAD BETWEEN I-5 AND IRVINE BLVD. FUNDING AGREEMENT WITH THE IRVINE COMPANY (FILE #2199) RECOMMENDATION: That the Tustin City Council approve the Jamboree Road/I-5 to Irvine Blvd. Funding Agreement and authorize the Mayor to execute said Agreement. BACKGROUND: Jamboree Road between IL5 Freeway and Irvine Blvd. is a project included within the East Tustin Assessment District No. 85-1. The District only funded improvements within the current city limits of Tustin. Certain portions of the Jamboree project fall outside of the jurisdictional limits of the City and must be funded by other sources. The work outside of the District's jurisdiction lies primarily between the'I-5 Freeway and the vicinity of Il-vine Blvd. DISCUSSION; The attached funding agreement provides a formal vehicle for the Irvine Company to fund that section of road improvements which are not eligible for Assessment District funding. These improvements were made a condition of approval of the East Tustin Specific Plan and will provide primarily the two northbound travel lanes for Jamboree Road. Additionally, these proposed street improvements are located outside the Assessment District limits but within both the unincorporated territory of the County of Orange and within the Tustin City limits. The Agreement provides for the Assessment District No. 85-1 to fund 71.51% and the Irvine Company to fund 28.49% of the total project cost for Jamboree Road. The City Attorney's office has reviewed this Agreement and approved same with respect to format. Bob Ledendecker Director of Public Works/City Engineer BL/mlb ~,E: Juz~, z3, z987 Inter-Com TO: ROBERT LEDEHDECKERw DIRECTOR PUBLIC.WORKS/CITY ENGINEER-/''. FR0~: CITY ATTORNEY SUSJtrCT: FUNDING AGREENENT FOR JANBOREE ROAD BETWEEN I-5 AND TRVINE BOULEVARD (FILE J2199) The proposed Funding Agreement for Jamboree Road between I-5 and ev.  'S ~'~% ROURKE :ity Attorney cc: w~ JtJL ?,: 198; JAMBOREE - I-5 TO IRVINE BOULEVARD FUNDING AGREEMENT This Agreement for Payment of Costs for Infrastructure Improvements for the portion of Jamboree Road between I-5 and Irvine Boulevard is' entered into by and between THE IRVINE COMPANY, a Michigan corporation, doing business as Irvine Community Development Company ("Company"), and THE CITY OF TUSTIN, a California corporation ("City"), as of this day of 1987. RECITALS WHEREAS, City and Company previously entered into that certain Agreement for Payment of Costs for Infrastructure Improvements, East Tustin Assessment District 85-1, dated April 30, 1986, (the "85-1" Agreement"), providing for the payment and reimbursement of certain costs to be incurred with respect .to (i). the construction of Jamboree Road between 1-5 and Irvine Blvd (The "Original Project") to serve all or a portion of that area of the City known as East Tustin, and (ii) the formation of East Tustin Assessment District 85-1; and WHEREAS, the Original Project (previously referenced as "Myford Road" within the "Final Engineer's Report for Assessment District 85-1") included a full half section of the ultimate 6 lane divided roadway including the full medians,and WHEREAS, both City and Company desire to construct improvements beyond the scope of the Original Project. AGREEMENT NOW, THEREFORE, in consideration of the mutual desire of City and Company to construct improvements beyond the scope of The Original Project and funding availability under the 85-1 Agreement, Company and City hereby agree as follows: 1. Expansion of Original Project. City and Company agree to expand the scope of The Original Project to include the improvements specified in Exhibit "A" and as shown on plans dated prepared by Boyle Engineering Corporation. The Original Project, as expanded by these improvements, will hereinafter be referred to as the "Expanded Project". 2. Fundi~. A. City shall, fund from Assessment District 85-1 bond proceeds all portions of the O~iginal Project identified in the 85-1 Agreement. B. City and Company shall fund the portions of the Expanded Project specified in Exhibit "A" which are beyond the scope of the Original Project. C. The revision of the Original Project will cause the design costs to increase, and the parties desire that'City pay for only the amount of design costs contemplated in the Original Agreement. Therefore, City and Company agree to fund their proportional share of the design costs of the Expanded Project as shown on Exhibit "A". D. City agrees to proceed with construction of the Expanded Project specified in Exhibit "A" and shown on plans by Boyle Engineering Corporation. E. Company agrees that this Agreement constitutes a guaranty of payment of normal progress payments upon presentation of a request for such payments by City and for payment in full upon completion of the Expanded Project and final cost accounting and. demand therefor by City. 3. Reimbursement to Company. City shall reimburse Company for its share of design costs for the Original Project advanced by Company. City shall make such reimbursements from time to time as mutually agreed by City and Company, but not later than thirty (30) days following completion of Original Project design. 4. Effect of Funding Agreement. Except as modified herein, the 85-1 Agreement shall continue unchanged, and as modified, it shall remain in full force and effect. IN WITNESS WHEREOF, the parties hereto have executed this Funding Agreement as of the date first written above. CITY OF TUSTIN, a THE IRVINE COMPANY, a Municipal corporation Michigan corporation By: By: Mayor, City of Tustin Vice President ATTEST: By: Assistant Secretary City Clerk, City of Tustin APPROVED AS TO FORM: City Attorney, City of Tustin TUSTIN .A.D FUNDED )~ TIC FUNDED Typical Section Proposed Interim Improvements NOT TO SCALE Jamboree Boulevard-Santa Aha Freeway to Irvine Blvd. ........................ ~~~--~ ................ ~~--~ .... ,-": 88 888 8 8888 888 88 81~888. B888 888 88 88 ~1' ............... ~;~;~;~;~;~;~; ~;~;--~;~;~ .... ~;~;~;--~;~; ....................................... ~-- _ $$~ ~ ~ 555~5 5 ~$~ ~$ $55 ,, ..;. .......................................... . ..................................................