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BACKGROUND <br /> In the early 1990's, the City annexed a number of properties along the Vineyard Avenue <br /> Corridor, as well as the Ruby Hill subdivision property. One of those properties was a <br /> 30 -acre parcel owned by Lonestar Properties. In 1999, the City adopted the Vineyard <br /> Avenue Corridor Specific Plan. One of the key elements of the plan was the realignment <br /> of Vineyard Avenue along the Arroyo del Valle. The new road alignment split the <br /> Lonestar parcel in two, with the northern seven acres vacant and the southern portion <br /> containing the road and the Centex Homes development known as Avignon. <br /> On October 13, 2008, Annexation /Detachment No. 148, Vineyard Avenue Realignment <br /> was completed. This annexation /detachment was necessary in order to make the city <br /> limits coincide with the new Vineyard Avenue road alignment along the Arroyo del Valle. <br /> This annexation consisted of annexing approximately 12 acres into the City and <br /> detaching about seven acres of property owned by Lonestar, located north of the <br /> realigned Vineyard Avenue. The seven acres of property will not be developed as part of <br /> the Specific Plan and, under the development agreement between the City and Lonestar, <br /> the City had agreed to initiate proceedings to return the status of that acreage to an <br /> unincorporated area. <br /> DISCUSSION <br /> As part of the annexation /detachment application the City Council adopted Resolution <br /> No. 05 -082 agreeing to the exchange of property tax revenue under our standard tax <br /> exchange formula with the County. However, the resolution never addressed the <br /> detachment of the parcel owned by Lonestar and did not specifically state that the City <br /> waives any interest or claim to the property tax (approximately $280 annually) for this <br /> detached parcel. The County Auditor has requested the City adopt a resolution in order <br /> to complete this process. <br /> Submitte0 by: Fiscal Review: Approve by: <br /> Brian Dolan Em Wagner Nelson Fialho <br /> Director of Director of Finance City Manager <br /> Community Development <br /> Attachments: <br /> 1. Vicinity Map <br /> 2. Draft Reorganization Resolution <br /> Page 2 of 2 <br />