Discussion and possible action to: (a) approve a Dedication and Reimbursement Agreement with Camino a Lago LLC for the dedication of an approximately 10-acre site for the Meadows Neighborhood Park and for reimbursement to the developer in the amount of $1,274,000 for the dedication of the site; (b) approve a Reimbursement Agreement with Camino a Lago LLC for payment in the amount of $4,438,913 by the City of Peoria to the developer for the design and construction of the Meadows Neighborhood Park; and (c) approve a budget amendment in the amount of $1,274,400 from the Neighborhood Parks Development Impact Fee Fund Contingency account to the Neighborhood Parks Development Impact Fee Fund Reimbursement account.

Camino a Lago LLC plans to construct a residential subdivision within parcels 7 and 8 of the Meadows subdivision. These parcels are bounded by Pinnacle Peak Road on the north, Williams Road on the south, 99th Avenue on the west, and 95th Avenue on the east. Per the approved stipulations in the major amendment to the Meadows Planned Community District (PCD), the developer is required to dedicate an approximately 10-acre site for a future neighborhood park. The Dedication and Reimbursement Agreement and the Reimbursement Agreement identify and define the responsibilities of the City of Peoria and Camino a Lago LLC, respectively, in the development of a neighborhood park in the Meadows subdivision. The responsibilities of the two parties are summarized below.

Dedication and Reimbursement Agreement

Responsibilities of Camino a Lago:

• Convey fee simple title to Park Site to the City within thirty (30) days following the date the final plat for phase 1 of parcels 7 and 8 is recorded in the real property records of Maricopa, County.

• Prior to or concurrently with such conveyaikiknce, retain or grant a temporary construction easement, a stormwater drainage and retention easement, and a maintenance easement.

• Pay prorated taxes for periods prior to the closing of the conveyance of the park site.

Responsibilities of the City of Peoria:

•  Pay Camino a Lago LLC the sum of $1,274,400 for the dedication of the park site. The source of this payment will be park impact fees collected from the project referred to as “The Meadows.”
• Deposit into escrow the full amount of park impact fees then available to the city, in an amount not less than $610,095.
• Following the conveyance of the park site to the city, pay the difference between the amount deposited into escrow and the total due in monthly payments of park impact fees collected.
• Extend the current impact fee zone adopted for parks to capture the likely service area for the neighborhood park identified in this agreement.
• Pay the cost of any owners policy of title insurance that the city desires to obtain with respect to the park site.

Reimbursement Agreement

Responsibilities of Camino a Lago LLC:

•  Submit to the city design documents that comply with all City of Peoria requirements.
•  Invoice the city no more than every thirty (30) days for costs incurred exclusive of the mass grading up to a maximum amount of $4,438,913.
• Cooperate with the city in the conducting of a public meeting and design charrette with school district officials to address park design and synergy with the adjacent school site.
• Bear responsibility for the permitting, bidding, construction, and construction administration of the project per city-approved plans and reports.
• Comply with all federal, state, and municipal requirements, including without limitation the public bidding requirements of Arizona Revised Statutes Title 34.
• Comply with all city bonding and insurance requirements.
• Obtain, or cause its contractors and subcontractors to obtain, all required permits from the city and/or other jurisdictions.
• Procure easements, if any, required for construction of any utilities as part of the park site improvements.
• Abide by all standards and requirements in the city’s Infrastructure Design Guidelines and City Code.
• Submit to the city a cost proposal from the consultant and/or contractor performing the work on the park.
• Use commercially reasonable efforts to complete the design and commence construction of the park prior to the issuance of the 1,000^th building permit for the Meadows. Following commencement of the project, diligently pursue the same to completion.
•  Require the contractor to provide a one-year warranty on its work at no cost to the city.

Responsibilities of the City of Peoria:

• Review and approve the duly bid project cost proposal and estimate.
• Review and approve improvement plans for the park and cooperate with the developer in the conducting of a public meeting and design charrette.
• Issue construction permits and inspect the project work for compliance with approved plans and standards.
• Work with the developer to permit the Phase I and Phase II improvements for parcels 7 and 8.
• Review submitted invoices and request revision or additional information within fourteen (14) days. Pay all invoices by the earlier of twenty-one (21) days following initial submittal or five (5) business days prior to the date developer is required to make payments to the contractors or other consultants under applicable law.
• Once improvements are accepted, assume sole responsibility for the maintenance of the park.

• July 2, 2014 – City Council approved major amendment no. 2 to the Meadows PCD
•  April 22, 2014 – City Council approved major amendment no. 1 to the Meadows PCD
• January 15, 2008 – City Council approved The Meadows Planned Community District

A: Approve the two agreements with Camino a Lago LLC for the development of a neighborhood park in the Meadows subdivision, as well as the related budget amendment.

B: Reject the agreements with Camino a Lago LLC and the related budget amendment. This would halt progress on the development of a neighborhood park in the Meadows subdivision.

Staff recommends approval of the following actions: (a) Dedication and Reimbursement Agreement with Camino a Lago LLC for the dedication to the City of Peoria of an approximately 10-acre site for the Meadows Neighborhood Park and for reimbursement to the developer in the amount of $1,274,000 for the dedication of the site; (b) Reimbursement Agreement with Camino a Lago LLC for payment in the amount of $4,438,913 by the City of Peoria to the developer for the design and construction of the Meadows Neighborhood Park; and (c) a budget amendment in the amount of $1,274,400 from the Neighborhood Parks Development Impact Fee Fund Contingency Account 7941-7941-570000 to the Neighborhood Parks Development Impact Fee Fund Reimbursement Account 7941-7941-561502.

The $1,274,000 for the Dedication and Reimbursement Agreement is not currently budgeted. The requested budget amendment will provide the spending authority needed to make the payments required by the terms of the agreement. The $4,438,913 for the Reimbursement Agreement is programmed for fiscal year 2019 in the Capital Improvement Program in the Meadows Neighborhood Park project (CS00086).