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COUNTY OF SAN MATEO
Inter-Departmental Correspondence
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Department of Public Works
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DATE:
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December 24, 2004
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BOARD MEETING DATE:
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January 4, 2005
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SPECIAL NOTICE/HEARING:
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None
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VOTE REQUIRED:
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Majority
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TO:
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Honorable Board of Supervisors
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FROM:
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Neil R. Cullen, Director of Public Works
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SUBJECT:
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Agreement for Funding of Public Roadway Related Facilities in Conjunction with the Construction of an Apartment Complex near the Colma BART Station – Colma Area
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Recommendation
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Adopt a resolution authorizing the President of the Board to execute an agreement with Colma Partners Associates, hereinafter called Developer, which will reimburse the Developer for a portion of the cost of providing public roadway related facilities in El Camino Real and Michael D. Nevin Way, in conjunction with construction of an apartment complex on San Mateo County Transit District (SamTrans) property near the Colma BART Station.
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Vision Alignment
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Commitment: responsive, effective and collaborative government
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Goal 20: government decisions are based on careful consideration of future impacts rather than temporary relief or immediate gain.
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Your Board’s willingness to provide matching funds when Transit Oriented Development funds cannot be used by a qualifying project, can encourage future developers to invest in similar high-density development near transit centers.
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Background
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Previous Board Action
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1.
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Approved the Colma BART Station Area Plan (Plan) which identified high-density development linked to the BART Station as a goal of the Plan.
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2.
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Authorized the Director of Public Works to submit an application for Federal Surface Transportation Program funding that is being made available through the City/County Association of Government’s (C/CAG) Transit Oriented Development Incentive Program (TOD), as a result of the Developer constructing the apartment complex as described above.
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History
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The Developer is constructing a total of 153 high-density units, including 31 affordable units, that are consistent with the goals of the BART Station Area Plan. The County qualified for TOD funding as a result of the Developer’s project, but the funds cannot be used in conjunction with the project due to the timing of the work and the time that it takes to obtain federal and state approvals in conjunction with TOD funding.
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Discussion
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The improvements that are being constructed in El Camino Real and Michael D. Nevin Way by the Developer are beneficial to the public and can be financed with Half-Cent Transportation funds that are made available to the County. The proposed agreement will reimburse the Developer with a like amount of Half Cent Transportation funds to finance public road related improvements, that except for the timing of the approvals, could have been financed with TOD funds.
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A resolution and agreement have been approved as to form by County Counsel and the Developer has executed the agreement.
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Fiscal Impact
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The proposed agreement provides that the County will reimburse the Developer for the actual cost of constructing public improvements that are determined to meet the criteria for the use of Half Cent Transportation Funds, up to the amount that the County receives in TOD funds, estimated to be a maximum of $310,000.
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There is no impact to the General Fund.
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