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Chino council approves $553,019 reimbursement to Lennar for University Park public improvements
Summary
At its Sept. 16 meeting the Chino City Council approved a construction credit reimbursement agreement with Lennar Homes of California for Tract Map No. 18972 (University Park) totaling $553,019.16 under the city's Development Impact Fee (DIF) program.
The Chino City Council approved a construction credit reimbursement agreement on Sept. 16 that will pay Lennar Homes of California $553,019.16 for DIF-eligible public improvements built as part of Tract Map No. 18972, known as University Park.
City contracts and DIF administrator Sylvia Ramos told the council the reimbursement reflects a reconciliation of developer costs, DIF credits and the city's nexus study estimates. "Therefore, the staff's recommendation to the city council to approve the construction credit reimbursement agreement with Lennar in the amount of $553,019.16 and…
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