RES 90078 - Laserfiche WebLink

MEMORANDUM Februal-y 28, 1990 FROM: Stoneridge Drive Specific Plan Property Owners Brian Swift, Planning and Community Development Director Specific Plan Cost Distribution Attached are the revised cost distributions for the Stoneridge Drive Specific Plan, as discussed at our meeting of February 26, 1990. The tables have been revised to show only half of the cost of E1 Charro Road being paid for by Specific Plan property owners and a reduction by one acre cf the developable land on the Dawes/Montgomery parcel. To recap the February 26 discussion, the following points %;era decided Ch: On-site improvements (parks and Stoneridge Drive) would be paid for by each property owner. Shared improvement costs'would be paid to the City at the building permit stage for residential development and at the final map stage for commercial and industrial development. For residential units, once the total number of units is determined through the PUD process, the shared improvement contributions can be divided equally among the approved units, and paid as each unit comes in for building permit approval. The County can defer payment of its shared improvement costs until 5he second phase (commercial/industrial} of development on the Staples Ranch property. Shared improvement contributions would be as shown in Table III, following City Council approval. Property owners can receive a credit against their portion of shared improvement costs if they construct portions of a shared improvement. One point that was not discussed is use of an inflation factor for shared improvement contributions made in the future. While we anticipate that much of the residential portion of the Specific Plan will be constructed soon, the