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Council OKs using community benefit fees to buy Live Oak Extension design while pursuing TERS reimbursement
Summary
Council authorized use of Community Benefit Fee Funds to purchase Live Oak Extension design plans immediately, with staff directed to pursue reimbursement from TERS. Council sought assurances reimbursement would be pursued by the TERS board.
Council approved a resolution authorizing use of community benefit fee funds (CBFF) to purchase design plans for the Live Oak Extension project so design work could proceed without delay, and directed staff to evaluate potential reimbursement from the TERS board if the board later approves inclusion. Economic development staff said CBFF funds are available now and are an approved use; pursuing TERS reimbursement requires amending the TERS project financing plan and approval by that separate board.
Council members asked how confident staff was that TERS would reimburse the CBFF; staff replied that the city can request reimbursement but the TERS board must vote to amend its financing plan. The motion to authorize CBFF usage and pursue potential TERS reimbursement passed 7-0.
