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ACTION ITEM #11 Phase 1RailyardAssociates for Development Agreement with Truckee Approval Phase 1RailyardAssociates for Development Agreement with Truckee Approval January 19, 2017
Development Agreement for 400,000$exceeds to the District conveyed site improvements -development agreement where the total value of onapproval by the Board of Directors is required
for any er District Code, P•and maintenanceDistrict for ownership, operation the developer and then conveyed to the is necessary when there are facilities that will be constructed by
agreement development When a developer proposes to construct a new project, a •BACKGROUND / HISTORY Phase 1RailyardDevelopment Agreement for Phase 1Railyard
Development Agreement for Warranty•Project acceptance•Indemnification•Insurance•Dedication of facilities constructed by the developer•Dedication of easements where necessary•and fees
Costs •Items addressed in development agreement typically include:•Separate development agreements for electric and water•projectthe responsibilities of each party with respect to a
particular Describes •DistrictDevelopment agreement is a contract between the developer and the •BACKGROUND / HISTORY Phase 1RailyardDevelopment Agreement for Phase 1Railyard
Development Agreement for Project acceptance and administrative closeout•Project construction•Board approval required (tonight)•feesSigning of development agreement and payment of costs
and •Preparation of development agreement•plansReview and revision of project •Development agreement application•project feasibilityregarding discussions Initial ••BACKGROUND / HISTORY
Phase 1RailyardDevelopment Agreement for Phase 1Railyard
NEW INFORMATION TDA working with Town of Truckee to obtain necessary approvals•Residential and commercial development•Land purchased by Truckee Development Associates (TDA)•Land formerly
owned by Union Pacific Railroad (UPRR)•Railyard project located at east end of downtown Truckee•Phase 1RailyardDevelopment Agreement for Phase 1RailyardDevelopment Agreement for
NEW INFORMATION Water Development Agreement Board approved the In July 2016, the •2 transformers••7 vaults•mounted switches-2 pad•through projectInstallation of underground electrical
infrastructure from Church Street •Relocation of pole for existing track crossing•siteRemoval of existing overhead electrical facilities through west portion of •Work for Phase 1 includes:•Phase
1RailyardDevelopment Agreement for Phase 1RailyardDevelopment Agreement for
FISCAL IMPACT$400,000The estimated Development Agreement is slightly in excess of •projectadministration of the associated with design, engineering, construction inspection and will
be responsible to reimburse the District for all costs Developer •Phase 1RailyardDevelopment Agreement for Phase 1RailyardDevelopment Agreement for
RECOMMENDATION electric between Truckee Development Associates and the District for development agreement to execute the Authorize the General Manager •Phase 1RailyardAgreement for Development
Phase 1RailyardAgreement for Development