Discussion and possible action on any and all matters regarding Resolution No. 2193. A Resolution of the Mayor and City Council of the City of San Luis, Arizona authorizing and directing the entering into a development agreement with Comite de Bien Estar, Inc. to provide for the development of public infrastructure improvements along north 4th avenue.  (Eulogio Vera, Public Works Director)

Comite de Bien Estar, Inc. is building a low-income housing project on North 4^th Avenue known as Valley View Apartments.  This project is being built as part of a low-income housing tax credit project for which the city has previously pledged $100,000 of support.  To adequately and safely serve this project, work on North 4^th Avenue as well as the relocation of a water main needs to occur.  The budget of Comite de Bien Estar is $190,000 and the public infrastructure that is needed exceeds that cost.

 At the time of the writing of this summary, a formal engineer’s cost estimate is being developed, but it most likely will not exceed $350,000.00.  The contribution to public infrastructure being sought is any cost that exceeds $190,000.00.  Staff proposes a development agreement to provide for city contribution but caps that contribution at $160,000.00.  Comite de Bien Estar needs to be issued building permits or its funding is jeopardized.  The agreement makes certain that the amount of assurances needed matches the financial obligations of Comite of $190,000.00.

The public in San Luis is served by having low-income housing available.  Since these are monies for municipal infrastructure on a major collector street, it will serve the public generally, not just Comite.