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6C - pLEASANTONo MEMORANDUM Date: September 19,2006 To: Mayor and City Council members ~v From: Nelson Fialho, City Manager Steven Bocian, Assistant City Manager S'5 Subject: Draft Financing Plan for Vineyard Avenue Corridor Specific Plan Infrastructure Improvements This memorandum is in response to a City Council request to provide a draft financing plan (Attachment A) for Vineyard Corridor infrastructure improvements outlined in the August 15,2006 staff report recommending awarding of contracts for water facility improvements (including water storage tank, finished access road, Zone 7 turnout and pump station). BACKGROUND In March 2000, the City Council approved the "Vineyard Avenue Corridor Shared Infrastructure Financing Program" (Financing Program) (Attachment B) to finance the utility and roadway improvements identified in the Vineyard Avenue Corridor Specific Plan (Specific Plan). The Financing Program was based on the Specific Plan's general financing concepts that included the following: . To implement a fair and equitable method of spreading the costs of financing shared infrastructure improvements. . To establish a coordinated and efficient program of phasing infrastructure improvements which allows private developments, an elementary school, and a community park to develop in as timely a manner as possible. While the anticipated Specific Plan infrastructure improvements are extensive with significant detail, for the purpose of this memo, they can be summarized as follows: . Water System Improvements - Construction of a water storage facility (reservoir), modifications to an existing Zone 7 turnout, water supply lines and construction of a pump station. . Sewer System Improvements - Construction of required sewer lines and a sewer pump station. . Roadway Improvements - Realignment of Vineyard A venue, trail and landscaping improvements to "Old Vineyard", and roadway landscaping. Also included were reimbursements for Ruby Hill "s" Curve straightening and Vista Diablo Street frontage.