TITLE
The Mayor and City Council shall discuss and take action on approving the addition of ED3 Electrical Upgrade at Southbridge Project to the FY23-24 Capital Improvement Plan. Discussion and Action.
AGENDA ITEM DESCRIPTION
The City is working with a Developer (Shaun Ridge, LLC) who is proposing a major retail/commercial component on the project. The City recently executed a Purchase Agreement (PA) with the Developer which identifies certain public right of way improvements that the City would fund and construct. These improvements include the design and construction of certain off-site improvements southeast of the Honeycutt Avenue right-of-way adjacent to the Shaun Ridge, LLC development.
ED3 will design and install the electrical lines from the existing ED3 Substation, south of the UPRR west of John Wayne Pkwy, continuing over to the southeast of John Wayne Pkwy to service the Southbridge area.
The project is recommended to be funded in this fiscal year, FY24, in the amount of $2,800,000.
This item will be presented by the Public Works Director, Keith Brown.
STAFF RECOMMENDATION
Staff recommends approval of the reallocation of $2,800,000 from Bond24 Public Works Capital Project budget funds (33256161-67750) and to add the ED3 Electrical Upgrade at Southbridge Project into the FY23-24 Capital Improvement Plan.