ORD 2010 - Laserfiche WebLink

concerns, among other matters, funding for certain improvements to El Charro Road from the I-580 interchange through the Jack London Boulevard/Stoneridge Drive intersection (the "El Charro Road Improvements"). G. SPA intends to construct the extension of Stoneridge Drive as a four lane divided public road eastwards through the Project Site from its current terminus at Trevor Parkway to El Charro Road, with turn lanes and two, two-lane bridges across the Arroyo Mocho, as more fully described in the Staples Ranch Specific Plan Amendment (the "Stoneridge Drive Extension Improvements"); H. SPA also intends to dedicate a portion of the Project Site to City as a right of way through the Project Site sufficient to accommodate the Stoneridge Drive Extension Improvements (the "Stoneridge Drive Right of Way"). I. As described in the Staples Ranch Specific Plan Amendment, SPA intends to pay the City one and a half million dollars ($1,500,000) for its contribution to the City's construction of off-site traffic improvements, namely the repaving of Stoneridge Drive between Kamp Drive and Trevor Parkway with noise annenuating pavement, making intersection improvements at Stoneridge Drive and Santa Rita Road, and installing traffic signals at the intersection of Stoneridge Drive and Newton Way, Guzman Parkway and Trevor Parkway (collectively, the "Off-site Traffic Improvements"), to address any off- site effects of the extension of Stoneridge Drive ("SPA Off-Site Traffic Improvements Fund"). As described in the Mitigation Monitoring and Reporting Plan, SPA also intends to construct a soundwall adjacent to the two residences on Maria Street and Curry Street closest to the new Stoneridge Drive bridges (the "Maria/Curry Streets Soundwall"). J. Collectively, the Stoneridge Drive Extension Improvements, City's development of the Neighborhood Park Site and the Community Park Site, and the Developers' private development of the Auto Mall Site, the Continuing Care Site and the Commercial Site shall be referred to as the "Staples Ranch Project", a conceptual site plan of which is attached hereto as Exhibit B for illustrative purposes only and subject to future changes, such as the addition of an Ice Center to the Community Park Site, should the City elect to construct one. K. City has taken several actions to review and plan for the future development of the Staples Ranch Project. These include, without limitation,the following approvals and development policies which are hereby incorporated into and made a part of this Agreement (the "Project Approvals"): 2