RES 90059 - Laserfiche WebLink

one-year redemption period has not been tested and there can be no assurance that, if tested, such legislation will be upheld. In the event such Superior Court foreclosure or foreclosures are necessary, there may be a delay in payments to bondowners pending prosecution of the foreclosure proceedings and receipt by the City of the proceeds of the foreclosure sale; it is also possible that no bid for the purchase of the applicable property would be received at the foreclosure sale. See section herein entitled "BONDOWNERS' RISKS". THE DISTRICT Introduction The City of Pleasanton (the "City") was incorporated June 18, 1894. The City is located in the southeastern section of Alameda County (the "County") approximately 40 miles east of San Francisco and 25 miles southeast of Oakland. The City limits encompass approximately 15 square miles of land area. Location The Dublin Canyon Road Reassessment District No. 1990-1 is comprised of 22.119 acres located in the northwest section of the City. The District is located along Dublin Canyon Road and Canyon Way and is adjacent to Interstate 580, an east-west freeway connecting the area to Oakland to the west and Stockton and the Central Valley to the east; and adjacent to Interstate 680, running north-south and connecting the area to San Jose to the South, Walnut Creek to the North and on to Interstate 80 and connecting to Sacramento. Description The City's General Plan designates the parcels included in the District for hotel/motel and commercial development. There are 8 parcels in the District of which 7 parcels are to be reassessed. The parcels are owned by four different property owners: Farmers Insurance Group;. Holiday Inn, Inc.; J. Andrew Krake; and Harbor View Investment, Inc.. For more information on the proposed development, see "Development Within the District" and "Property Ownership Within the District" herein. Existing Development Near the District Adjacent to the District is the Stoneridge Mall, an approximate 1.1M square foot regional shopping center, containing Macy's, Emporium, J. C. Penney Company, Inc., Nord. str. om..(planned to open in March 1990), and numerous auxiliary tenants. In close proximity ~s the Foothill Medical building, West Coast Federal Savings building, World Savings building, and Eureka Savings building. Kaiser Permanente has a major medical facility south of the mall.