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Council approves reimbursement agreement for F Street Corridor infrastructure; 4–1 vote
Summary
The council approved a capital facilities and plan area fee reimbursement agreement with Tesoro Homes Inc. to reimburse $2,856,246.60 for infrastructure built in the F Street Corridor specific plan area; the reimbursement is split between the city’s capital facilities fee and the plan area fee, and the measure passed 4–1.
The Oakdale City Council voted 4–1 on Feb. 18 to authorize a reimbursement agreement with Tesoro Homes Inc. to repay infrastructure costs incurred for the F Street Corridor specific plan area. The total reimbursement amount cited in staff materials is $2,856,246.60, allocated as approximately $999,000 (35%) from the city’s Capital Facilities Fee (CFF) and $1,800,000 (65%) from the Plan Area Fee (PAF).
City staff explained the…
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