Laserfiche WebLink
Agreements with Developer and Railroad Company <br />Railroad Crossing Improvements at 2001 East Dyer Road <br />September 17, 2019 <br />Page 2 <br />equipment. BNSF Railway policy requires their direct coordination with public agencies and not <br />developers. Therefore, the City must act as the lead agency in facilitating the improvements. <br />The City will need to enter into two agreements. The first is a Reimbursement Agreement whereby <br />the Developer agrees to deposit with the City the pass -through funds in the amount of $296,940 <br />for the cost of the required railroad crossing improvements (Exhibit 2). The second agreement is <br />with BNSF Railway Company to construct the required railroad crossing improvements for the <br />estimated cost of $296,940 (Exhibit 3). The Reimbursement Agreement obligates the Developer to <br />pay for any approved additional costs above the project estimate. <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports the City's efforts to meet Goal #6 — Community Facilities & <br />Infrastructure, Objective #1 (establish and maintain a Community Investment Plan for all City <br />assets). <br />ENVIRONMENTAL IMPACT <br />There is no environmental impact associated with this action. The improvements are required as <br />part of Project Environmental Impact Report EIR # 2015011028. <br />FISCAL IMPACT <br />There is no net cost to the City. Developer will pay the entire cost of the improvements estimated <br />to be $296,940. This full amount will be deposited with the City and used to pay for actual project <br />costs as invoiced by BNSF Railway. <br />The requested Appropriation Adjustment will recognize the Developer deposit of $296,940 into the <br />Select Street Construction, Developer Contributions In Lieu revenue account (No. 05917002- <br />57080), and appropriate the same amount into the Select Street Construction, Contract Services - <br />Professional expenditure account (No. 05917660-62300). <br />FY 2019/20 budget transactions are summarized as follows: <br />Fiscal <br />Accounting Unit <br />Fund <br />Accounting Unit, <br />Year <br />— Account # <br />Description <br />Account Descri tion <br />Amount <br />REVENUE <br />FY <br />Select Street <br />Select Street Construction, <br />2019/20 <br />05917002-57080 <br />Construction <br />Developer Contributions In <br />$296,940 <br />Lieu <br />Total Appropriation: <br />$296,940 <br />20B-2 <br />