Council members put off adjusting timing of impact fees paid by the developers of a new hotel and new mixed-use project Monday after the city manager urged a delay so he could come back with broader programs potentially affecting other new businesses as well.
Developers of the Fairfield Inn & Suites project on Gateway Drive were asking the city to finance more than $600,000 in impact fees connected to that development, according to a council agenda report on the item. Staff members had urged approval of a loan agreement with the developer, but City Manager Bill Avera broached an altered direction at the Monday meeting with the hotel and a separate project.
Developers of the Vista Del Oro mixed-use project at 1480 San Juan Road – it includes 96 condominium units and 30,000 square feet of commercial space – were asking to defer related impact fees until later dates than those required by the city.
The developer, Saroyan Masterbuilder, expects those impact fees to eclipse $3 million. The request is to have the residential fees collected at the time of escrow on individual units as opposed to before the building department’s final inspection. For the retail component, the builder wants to have fees collected when the space is leased.
At Monday’s meeting, Avera suggested he could come back with a proposal to allow similar financing to the hotel operation from “any sort of tourist-related business” such as restaurants, hotels, “things of that nature,” he said. Avera said he would like to come back at one of the next meetings with an official proposal that will include a proposed interest rate.
The city manager was set to come back with more details on a program for housing projects as well.
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