SR 05:120 - Laserfiche WebLink

remaining retention to Greenbriar Homes 30 days after the filing of a Notice of Completion. Honorable Mayor and Members of the City Council: BACKGROUND The realignment of Vineyard Avenue, from the Ruby Hill Fire Station to Pietronave Lane, was established conceptually in the Vineyard Avenue Corridor Specific Plan, adopted by the City Council in 1999. The realignment shifted the roadway northerly towards the Arroyo del Valle, eliminates substandard curves that occurred along the then existing roadway alignment, and provides for the future development of Specific Plan properties. This realignment of Vineyard Avenue and construction of other necessary core infrastructure, such as water and sewer lines within the new roadway, provide for the development of properties included within the 384 acre Vineyard Avenue Corridor Specific Plan area. The initial phases of construction included roadway improvements for a realigned Vineyard Avenue between the Ruby Hill Fire Station and Pietronave Lane, in addition to the establishment of a loop road surrounding the proposed Neal School site, and storm drainage improvements, including two storm water detention ponds. Some of the Specific Plan core infrastructure had already been constructed with earlier developments, such as infrastructure constructed with the Vista Diablo subdivision and the S-curve realignment constructed by Signature Properties. Now that the realignment of Vineyard Avenue is complete, the remaining phases of construction can proceed, including water and sewer facilities, landscaping of the roadway, and conversion of the old Vineyard Avenue to a pedestrian/equestrian trail. The Specific Plan provided a conceptual financing plan for Vineyard Corridor infrastructure by establishing lot shares, or lot share equivalents, to fund the construction of the required core infrastructure, including those improvements already constructed. Plan Area developers were to complete the remaining necessary core infrastructure components concurrent with on-site development. The Financing Plan had envisioned that developers who advanced funds for this purpose, considered "Funding Developers" under the Financing Plan, would be eligible for reimbursement as subsequent development takes place and Specific Plan fees are paid. Unfortunately, a downturn in the economy in 2001 and 2002 had caused the Specific Plan developers to delay their plans to move forward with residential development and the Specific Plan infrastructure improvements. In 2002, the Pleasanton Unified School District and the City Council decided that completion of the new Vineyard Avenue roadway was in the best interests of the School District and the City, and that funding of the required basic infrastructure, in advance of residential development within the Corridor, would be appropriate. The proposed roadway improvements were intended to provide access to the future Neal School site and to accommodate the preferred alignment for SR:05:120 Page 2 of 7