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C. The City adopted the Vineyazd Avenue Corridor Specific Plan (the "Specific <br />Plan"), on June 1, 1999 to guide future development within its boundary. The <br />Specific Plan sets forth land use, infrastructure, and other policies governing <br />future development of the lands within the Conidor, a key element of which is the <br />realignment of Vineyazd Avenue. <br />D. Property Owner, through its then optionee Centex Homes, has proposed a <br />development plan for ten new residential lots on the Property and retention of the <br />existing residence. This development plan contemplated simultaneous <br />development of the adjoining Berlogaz property, and a single development plan <br />consisting of 19 units was developed for both, PUD-O5. The City approved <br />PUD-OS on June 19, 2001. The City also approved a Growth Management <br />Agreement with Centex Homes covering these units, an agreement which <br />continues to cover the proposed units to be built on the Property, and which <br />allows development of the houses within the project to proceed in an orderly, <br />coordinated fashion. The approvals, taken together with the Specific Plan, <br />constitute the initial development plan for the Property (the "Project"). <br />Subsequent approvals, both discretionary and ministerial on the part of the City, <br />remain before any development can occur. <br />E. The nature of the infrastructure requirements to support development in the <br />eastern sector of the Specif c Plan area require up-front construction of the <br />Revision #1, Draft Chrisman Development Agreement Page 2 of 13 <br />