ORD 1792 - Laserfiche WebLink

EXHIBIT "B" Happy Valley/North Sycamore Finance Plan This Exhibit "B" constitutes the specific fmancing plan for the certain infrastructure in the City of Pleasanton to benefit existing residents and homeowners in the Happy Valley Specific Planning Area to be annexed into the City (the "Happy Valley Homeowners Area") as follows: 1. Funding Developers: The funding developers ("Funding Developers"), for purposes of this Finance Plan, are: (a) New Cities Development Group, a California general partnership ("New Cities") with respect to the project known as PUD 97-12, consisting of 48 single-family residential units located on approximately 34.7 acres of land ("New Cities Project'D; (b) Black Mountain Development, a Califomia , Roger and Jane Manning, and James and Donna Hogue (collectively "Black Mountain"), with respect to the project known as the Golf Course property, PUD 99- , consisting of 34 new and 3 existing single-family residential units located on approximately __ acres of land ("Black Mountain Project"); and (c) TTK Partnership, a Califomia general parmership CTTK"), with respect to the project known as PUD 99-07, consisting of 12 single-family residential units located on approximately 46 acres of land CTTK Project"). 2. Funded Improvements: The Funding Developers, as applicable, shall be responsible for the payment of the costs of the following public improvements of benefit to the existing developed residential properties in the Happy Valley Area: (a) Water and Sewer for Happy Valley Area: (i) Funding Developers' Work: Either Black Mountain or New Cities will design and construct certain portions of the public water and sewer infrastructure in Happy Valley (such portions to be as described and delineated in Exhibit "B-1 "), excluding the facilities and lines serving the golf course, golf course homes, and Alisal. The cost of the improvements to be constructed under this subparagraph (a)(i) is currently estimated at $955,420 [sum of $632,723 + $322,697]. The specific party who performs this work (the "Proceeding Developer"), determined pursuant to Section 3(a), below, shall design and construct such water and sewer improvements subject to reimbursement of its Reimbursable Costs as provided hereinafter. (A) Upon the first to occur of (I) City acceptance of improvements in the Proceeding Developer's project, or (II) authorization for the first sewer connection to a homeowner in the HVSPA, City will reimburse the Proceeding Developer for the portion (current estimate $322,697) of the Reimbursable Costs of the sewer and water -1- 10/21/99