PC 2000-49 - Laserfiche WebLink

The boundaries of the Public parcel and the PUD Parcels may be fine-tuned as maps are prepared and finalized or as may be required by third-party governmental agencies. In its conveyance of the 330 acres, City hereby acknowledges that Property Owner will reserve the following rights: (a) the placement and/or removal of soil for the purpose of grading; Co) insufllation of storm water retention basins as shown in the Initial Project Approvals; (c) mitigation for biological purposes as may be ~quired by other agencies which have jurisdiction over biologically sensitive areas on the Prol~rty [Areas of the Public Parcel svatlahle Jbr mitigation s~ili under discussion]; and (d) for the disposition of Native American burial findings. Property Owner shall dedicate the Public Parcel and City shall accept the offer of dedicalion anytime after the Property has been annexed into the City, a Final Map has been recorded and initial building permits have been issued for the following: the Project's commercial property, apartment community (100 units), and homes on the 4,000, 6,000 and 12,000 square foot lots. [Still under discussion.] Property Owner acknowledges that it has not yet been determined what uses the City will ultimately place on the Public Parcel but such uses may include (but are not limited to) a community park (including lighted sportsfields), a golf course, a commuter train station, and a cemetery. Once the uses are known, City will work in good faith with Property Owner to minimize the impacts of these uses on the residential users. [Parameters for minimizing impacts still being discussed.] Property Owner shall include in its Covenants, Conditions and Restrictions, and shall prepare a disclosure, both to be approved by the City Attorney, such approval not to be unreasonably withheld, providing notice to purchasers and prospective purchasers of pareels within the Project oftbe potential uses of the Public Parcel. City agrees that it shall accept dedication of the Public Parcel. City shall maintain at its sole expense, without creation of an assessment district affecting solely those owners of property within the Project, any of the Public Parcel which is dedicated to or otherwise acquired by City under the Project Approvals. Failure of the City to accept dedication of the land referred to in this Section 3.3 for any reason shall not be deemed a breach of any condition or covenant on the part of Property Owner set forth in the Initial Project Approvals. If City at anytime within 15 years from th~ Initial Project Approvals sells or leases any portion of the Public Parcel for uses other than as specified in Exhibit E, attached hereto and incorporated herein by reference, Property Owner shall be given the right of first refusal to purchase/lease said portion. [The right of tint r~fusal language and distribution of the n~t price for sale to third parties still under disenssion.] 3.4 P~ F~. The parties have agreed that Property Owner will receive credit in the mount of Six Hundred Fifty Thousand Dollars ($650,000) for dedication and improvement of the five acre neighborhood park. The Six Hundred Fitly Thousand Dollars ($650,000) figure is based on One Hundred Thirty Thousand Dollars ($130,000) per acre for design, construction and development of the park. Property Owner will pay City an additional One Million Dollars ($1,000,000)Upon the issuance of the 215m building permit for a single family detached market rote residential unit. Should the cost of design, construction and development of the 35690/~9375V5 - I I -