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Oakdale approves $2.856 million reimbursement agreement with Tesoro Homes for F Street Corridor infrastructure; vote 4-1
Summary
Council approved a reimbursement agreement to repay Tesoro Homes Inc. $2,856,246.60 for infrastructure installed in the F Street Corridor specific plan area; the reimbursement is to be funded from capital facilities fees and plan-area fees in future collections. The measure passed 4-1.
The Oakdale City Council on Feb. 18 approved a capital facilities fee and plan-area fee reimbursement agreement with Tesoro Homes Inc. to repay infrastructure costs installed in the F Street Corridor specific plan area.
City staff said the developer installed public infrastructure — curb, gutter, sidewalk, pavement, landscaping, water, sewer and storm drainage — that benefits subsequent development in the specific plan area. A finance plan…
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