SR 05:340 - Laserfiche WebLink

of buildable lots on the o"W'ner's Lot even though no buildable lots, or not the entire number of buildable lots allo"W'ed under the Specific Plan, "W'ould initially be created. This proposed amendment "W'ould do a number of things: It "W'ould allo"W' a property owner "W'ith a HillsidelLo"W' Density Residential/Opens Space designated Lot to pay the Specific Plan fees "W'hen a parcel or final map is approved but only for the buildable lots created by the map; it "W'ould allo"W' a property o"W'ner "W'ith a Hillside/Open Space designated Lot to pay the Specific Plan fees "W'hen a parcel or final map is approved but only for the buildable lots until more than half of the buildable lots are created at "W'hich time all the Specific Plan fees "W'ould be due; it "W'ould require a property o"W'ner "W'ith an existing structure "W'ho subdivides the property to pay the Specific Plan fees for any ne"W' buildable lot and a portion of the fees for the existing structure; and it "W'ould require a property o"W'ner "W'ith a vacant lot "W'ho did not intend to subdivide but did intend to build (a single family home, for example) to pay the Specific Plan fee for that Lot "W'hen the building permit "W'as issued. The amendment "W'ould also permit a property o"W'ner "W'ith an existing home "W'ho "W'as not subdividing the Lot but "W'anted to connect to the shared infrastructure to pay Specific Plan fees associated "W'ith that connection rather than the fees for all the buildable lots. Finally, because the City currently is last in line to be reimbursed for expenses it has incurred in constructing improvements ("W'hen the Program "W'as adopted in 2000 it "W'as not contemplated that the City "W'ould be a funding developer except for certain "W'ater system improvements), staff is asking for direction to retum further amendments to the Program to address this inequity. Honorable Mayor and Members of the City Council: BACKGROUND In March 2000, the City Council approved the "Shared Infrastructure Financing Program" for the Vineyard Avenue Corridor Specific Plan. That Program, in part, provides "W'hen Specific Plan fees are to be paid "W'hen the property o"W'ner elects to pay the fee in lieu of constructing Specific Plan improvements. Financing Program #7 provides that for subdivision of Lots (meaning the 33 "Lots" listed in Table 111-1 of the Specific Plan) creating ne"W' buildable lots, the fees for all such lots shall be paid at the time of the first final map (parcel or final map) approval. Financing Program #8 provides that for Lots "W'ith existing homes, the Specific Plan fees are to be paid at the time a building permit that results in the connection to the infrastructure improvements is issued or "W'hen the first subdivision of the Lot occurs, "W'hichever is earlier. Finally, Financing Program SR:05:340 Page 2