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FINANCIAL STATEMENT <br /> Funding of these GHADs will have a minimal financial effect on the City. Because of <br /> Proposition 218, the City now pays for one parcel within the Oak Tree Farm District <br /> ($298), one parcel within the Moller Ranch District ($112), and two parcels within the <br /> Laurel Creek Estates District($784 annually) due to the City's ownership of parcels within <br /> these districts. These parcels contain public facilities such as water tanks and pump <br /> stations. Staffs cost to administer these Districts will continue to be funded by the <br /> assessments. <br /> BACKGROUND <br /> GHAD - Purposes and Description <br /> Geologic Hazard Abatement Districts (GHADs) are State-authorized districts which can <br /> be formed for the purpose of prevention, mitigation, abatement or control of a geologic <br /> hazard. A "geologic hazard" is an actual or threatened landslide, land subsidence, soil <br /> erosion, or other natural or unnatural movement of land. Movement of land/damage due <br /> to an earthquake is specifically exempted from coverage by the GHAD. <br /> GHADs are formed when a geotechnical investigation at the time of development reveals <br /> land areas within the development that are unsuitable for housing or other structures due <br /> to evidence of prior earth movement and/or the potential for future earth movement. <br /> These undevelopable areas in the project are set aside as open space. In these open <br /> spaces, based upon the findings of the geotechnical investigation, the developer <br /> constructs infrastructure designed to lessen the likelihood that earth movement will occur <br /> and damage the areas that are developed with roadways, utilities, housing, etc. The <br /> infrastructure includes slope stabilization measures such as drainage V-ditches, <br /> pipelines, rip rap armoring, etc. The GHAD is the funding mechanism to monitor and <br /> repair (and eventually replace) the infrastructure, and repair soil movement or landslides <br /> (should they occur). <br /> A GHAD, like any Special Assessment District, is designed to assess property owners for <br /> a benefit they receive that is special to them. The developers, in conjunction with the <br /> City, created each of the Pleasanton GHADs to operate, maintain, and eventually replace <br /> the slope stabilization measures they built as part of their respective housing <br /> developments. The developers also dedicated in fee title all the open space to the City <br /> (in some cases the HOA), and established that the City Council would serve as the Board <br /> of Directors of each GHAD. The developers and the Board of Directors established the <br /> initial assessments based upon "plan of control"documents created for each district. The <br /> plan of control documents utilized each developments original construction plans as the <br /> basis for the repair and maintenance plan. The developers also put some funding into a <br /> reserve as"seed money"for the eventual capital replacement needs. After establishment <br /> of the GHAD, annual assessments have appropriately been collected from property <br /> owners at the same time and in the same manner as property taxes. <br /> Existing GHADs within the City of Pleasanton <br /> There are currently four GHADs within Pleasanton: Oak Tree Farm, Moller Ranch, Laurel <br /> Creek Estates (The Preserve, Oak Hill Estates and Kolb Ranch Estates) and Lemoine <br /> Ranch Estates. The Oak Hill Estates and the Kolb Ranch Estates subdivisions were both <br /> Page 2 of 6 <br />