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THE CITY OF 6 <br /> °� CITY COUNCIL AGENDA REPORT V <br /> pL EASANTON® <br /> October 16, 2012 <br /> Community Development <br /> Engineering Division <br /> TITLE: ADOPT A RESOLUTION INITIATING REORGANIZATION/ANNEXATION <br /> PROCEEDINGS FOR THE BALCH ANNEXATION NO. 153 <br /> SUMMARY <br /> Property owner Sherman Balch has requested to annex his 10.08 acre parcel to the City <br /> in order to subdivide his property into two parcels. This parcel is located at 6010 Alisal <br /> Street at the east end of Sycamore Road. In 1998, the City adopted the Happy Valley <br /> Specific Plan (HVSP), which included this parcel. The Specific Plan was adopted in <br /> conjunction with pre-zoning of this area. A development plan is currently being <br /> processed with the City and is consistent with the Specific Plan. <br /> If Council chooses to proceed with this request, the next step in the process is the <br /> adoption of resolutions requesting initiation of the reorganization and agreeing to the <br /> exchange of property tax revenue for the proposed reorganization. <br /> RECOMMENDATION <br /> 1. Adopt a resolution of application to LAFCo for Reorganization/Annexation of <br /> 10.08 acres to the City of Pleasanton. <br /> 2. Adopt a resolution agreeing to the exchange of property tax revenue under the <br /> standard property tax exchange formula. <br /> FINANCIAL STATEMENT <br /> There will be nominal costs associated with the annexation along with routine <br /> maintenance when this parcel is within the City of Pleasanton. The owner is required to <br /> pay HVSP fees, water and sewer connection fees, and building permit fees at time of <br /> development. <br />