OTHERAPPROVED

roseville-joint-union-high-contract-2023-12-14_791.pdf

Mitigation Fee Pact With JEN CA Placer Ranch LLC Approved

Single Family: $10,623 per unit; Single Family (Age Restricted): $855 per unit; Off-Campus Student Housing: $855 per unit; Multi-Family: $4,885 per unit; plus $0.31/sf on commercial/industrial; annual inflation adjustments; at least 40% of max residential fee per DURoseville Joint Union HighJEN CA PLACER RANCH LLCDecember 14, 2023

Trusted by teams at

Description

Roseville Joint Union High School District approved a mitigation agreement with JEN CA Placer Ranch LLC requiring developer payments for each new residential unit and commercial/industrial square foot built within the Placer One project. Payments start at $10,623 per single-family unit (with specified minimums for other types), adjust annually for inflation, and support construction of new high school facilities. The agreement remains in effect throughout the project's development until all obligations and releases are satisfied.

Contract Details

Contract Amount

Vendor

JEN CA PLACER RANCH LLC

Agency

Roseville Joint Union High, CA

Contract Type

OTHER

Document Date

December 14, 2023

Contract Term

Effective December 14, 2023, until recordation of release per Paragraph 11 (duration tied to buildout and fulfillment of mitigation payments)

Renewal Date

2024-07-01

Renewal Info

Minimum payments increase annually for inflation beginning July 1, 2024. Agreement continues until all mitigation requirements are met and releases recorded for each parcel/unit. Amendments allowed only by written instrument signed by both parties.