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VENTURA COUNTY FOCUS | EAST COUNTY / MOORPARK

Developer Offers to Pay Fees Upfront

September 01, 1998|REGINA HONG

The developer of a luxury home project has offered to pay the city $3 million in impact fees upfront--rather than $5 million over 15 years--in exchange for clear dates on when several key permits would take effect.

Toll Brothers Inc., the developer of 216 estate-style homes in north Moorpark, would like to know when its conditional use and residential planned development permits become effective. The dates are unclear in the development agreement between the developers and the city, said John Nowak, assistant city manager.

As a result, the City Council on Wednesday will consider whether to accept Toll Brothers' offer, which one city leader has described as "reasonable."

Mayor Pat Hunter said the $3-million payment would provide the city with more control over the funds than the existing development agreement allows.

If city officials agree to the offer and no lawsuit is filed in connection with the project, the city could begin earning interest on the money, which has already been deposited into an escrow account, starting Jan. 1. And the city could expect to receive the $3 million with accrued interest on May 15 or when the project's early grading permit is filed, whichever comes first.

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