TITLE
Recommendation to find that a transportation improvement fee credit, in the amount of $190,460, is due to LBWTC Real Estate Partners for the Hilton Hotel Long Beach development, in accordance with Section
18.17.110 of the Long Beach Municipal Code, and request City Attorney to prepare an ordinance confirming the transportation improvement fee credit; and authorize City Manager to execute a contract with LBWTC Real Estate Partners, in which City grants a transportation improvement fee credit, in the amount of $190,460, in consideration of transportation improvements constructed as a part of the Long Beach Hilton development, with a remaining balance due of $398,860. (District 2)
DISCUSSION
Section 18. 17. 110 of the Long Beach Municipal Code (Code) permits applicants normally subject to a transportation improvement fee (TIF) to apply for a credit, not to exceed 100 percent of the amount due, if the applicant provides specified improvements contained within the transportation improvement plan. LBWTC Real Estate Partners (LBWTC) has submitted an application requesting a credit of $190,460 in consideration of the eligible traffic improvements associated with the construction of the Long Beach Hilton Hotel.
The Long Beach Hilton Hotel development was assessed $589 320 in transportation improvement fees. On October 22 , 1990 , 10M World Trade Center Corporation sent a formal request to the Director of Planning and Building requesting consideration of $624 844 in credit toward the TIF due, specifically for the cost of the realignment of Golden Avenue. The letter was subsequently forwarded to the Public Works Director and , on August 26, 1991 , the Department of Public Works sent a response to the developer stating that the City had reviewed their request and determined that $190,460 of the total cost incurred by the developer for the Golden Avenue realignment was consistent with the transportation improvement plan and was therefore eligible for a credit toward ...
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