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THE CITY OF ~ _ ~~~ ~~r PL£~S~NTONo MEMORANDUM Date: September 19, 2006 To: Mayor and City Councilmembers ~ (~ / From: Nelson Fialho, City Manager pi~U"1_,/ Steven Bocian, Assistant City Manager 53 Subject: Draft Financing Plan for Vineyard Avenue Corridor Specific Plan Infrastructure Improvements 6C This memorandum is in response to a City Council request to provide a draft financing plan (,Attachment A) for Vineyazd 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 Con•idor Shared Infrastructure Financing Program" (Financing Program) (Attachment B) to fmance 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 Avenue, 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.