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II. PROJECTS PROPOSED TO BE ACCOMPLISHED BY SPECIAL ASSESSMENT <br /> DISTRICT PROCEEDINGS AND OTHER FINANCING <br /> <br /> A. Recital of general purpose. Developer has an option to pur- <br />chase from Stoneson the property herein referred to as Shopping Center <br />and Peripheral Land. Developer proposes to obtain title to said property <br />for the purpose of establishing the Regional Shopping Center and peri- <br />pheral uses on said property. In connection with the development of <br />the Regional Shopping Center, it will be necessary that there be established <br />adequate water system, sanitary sewer system, storm drain system, collateral <br />and ring and magazine roads for access, and major improvements to Stone- <br />ridge Drive, East and West, Foothill Road and the overpass Over Inter- <br />state Highway 680, and future traffic circulation movements. To this <br />end Developer, Stoneson and City propose to finance the required public <br />works involved by special assessment proceedings hereinafter set forth. <br /> <br /> B. Specific projects proposed to be done. The specific public <br />improvements necessary to enable the construction and operation of the <br />Regional Shopping Center are contemplated to be funded, as hereinafter <br />more particularly described: <br /> <br /> 1. Assessment District No. 1974-1, <br /> <br /> The purpose of this assessmentsdistrict is to provide a <br /> <br /> portion of the funds necessary for grading, paving, concrete work, storm <br /> and sanitary sewers, street lighting and signalization on Foothill Road <br /> and, if necessary, acquisition of necessary rights-of-way. The County of <br /> Alameda is expected to contribute 16.667% of the total cost up to a maxi- <br /> <br />mum of $270,000. <br /> <br />-3- <br /> <br /> <br />