HomeMy WebLinkAboutResolutions - No. 2023-57RESOLUTION NO. 2023-57
A RESOLUTION OF THE LODI CITY COUNCIL AUTHORIZING THE
CITY MANAGER TO EXECUTE A FEE PAYMENT AGREEMENT FOR
302 NORTH SACRAMENTO STREET (LODI BOWLING ALLEY)
WHEREAS, Elite Management Company, Inc., has submitted a building permit
application (No. 20182145) to construct a two-story bowling alley equipped with a bar and
banquet room on the property known as 302 North Sacramento Street; and
WHEREAS, the project included the installation of public improvements on
Sacramento Street and Lockeford Street, which were accepted by Council on August 19, 2020;
and
WHEREAS, payment of Development Impact Mitigation (DIM) Fees ($219,913.13) is
required as part of the building permit conditions; and
WHEREAS, on December 20, 2022, the Owner requested to enter into a Fee Payment
Agreement with the City to allow payment of the DIM fees in twenty (20) equal semi-annual
installments ($12,853.24) plus interest over a ten-year period and interest would be charged at
the current Local Agency Investment Fund (LAIF) rate plus one percent (3.07%); and
WHEREAS, staff recommends authorizing the City Manager to execute a Fee Payment
Agreement for 302 North Sacramento Street (Lodi Bowling Alley).
NOW, THEREFORE, BE IT RESOLVED that the Lodi City Council does hereby
authorize the City Manager to execute a Fee Payment Agreement for 302 North Sacramento
Street (Lodi Bowling Alley); and
BE IT FURTHER RESOLVED, pursuant to Section 6.3q of the City Council Protocol
Manual (adopted 11/6/19, Resolution No. 2019-223), the City Attorney is hereby authorized to
make minor revisions to the above -referenced document(s) that do not alter the compensation
or term, and to make clerical corrections as necessary.
Dated: March 15, 2023
I hereby certify that Resolution No. 2023-57 was passed and adopted by the City
Council of the City of Lodi in a regular meeting held March 15, 2023 by the following votes:
AYES: COUNCIL MEMBERS — Bregman, Craig, Nakanishi, and Mayor Hothi
NOES: COUNCIL MEMBERS — None
ABSENT: COUNCIL MEMBERS — None
ABSTAIN: COUNCIL MEMBERS — None
PAMELA M. FARRIS
Assistant City Clerk
2023-57