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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 agreement reimburses the developer — Tesoro Homes Inc. — for off‑site and on‑site infrastructure that the developer installed to serve future development in the specific plan area, including street, water, sewer and storm drainage work. Staff said the work was completed as a condition of approval for the developer's previous phases and that the finance plan allocates costs among future benefiting projects so the initial developer can be reimbursed by fees paid by later development.
Council members asked for clarity on who the developer is and how repayment occurs; staff said fees collected from future building permits and the capital facilities fee will provide the reimbursement streams, and that some of the fees the developer already paid will offset the amount due. Staff provided a breakdown in the staff report of cost categories: approximately $2.2 million for streets, $265,000 for water, $131,000 for sewer and $211,000 for storm drainage, summing to the figure cited.
The motion to approve passed 4–1; one council member voted no. Staff noted the agreement uses restricted fee funds and does not affect the city’s general operating fund.
Votes at a glance: 11.5 — Approve capital facilities fee and plan area fee reimbursement agreement with Tesoro Homes Inc.; vote: 4–1 (approved).
