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Key terms of the agreement are as follows: • Provides that the costs for the EI Charro Road construction, and the water detention facilities, will be shared between Livermore and the Surplus Property Authority. • Assumes that Livermore will be the lead constructing agency and provides for the SPA to pay Livermore $2 million dollars for its full share of EI Charro roadway improvements. If the Livermore developments do not proceed as planned and Pleasanton becomes the lead constructing agency, the Authority will pay for the improvements and Livermore will pay the SPA $2 million as reimbursement for the improvements. Pleasanton is not financially obligated to pay for these improvements. • Assumes both Livermore and the SPA will work cooperatively with Zone 7 regarding flood control improvements and includes provisions to share any fee credits/reimbursements from Zone 7 to offset the costs of these improvements. The SPA's contribution to these improvements is estimated at $2.4 million. Pleasanton is not financially obligated to pay for these improvements. • Requires Livermore and the SPA to work together to secure Caltrans approval for additional improvements required for the I-580/EI Charro Road-Fallon Road Interchange Project. • Establishes that Livermore will not challenge or oppose the Staples Ranch development provided it is approved with the Stoneridge Drive right of way reserved as included in the previously approved MOU; that it discloses to all residents of the proposed continuing care community the potential noise and nuisances from the Livermore airport and that it establishes the on-site project manager be the initial contact for complaints; that traffic analysis and impacts are consistent with the EI Charro Specific Plan EIR, and that these and other mitigations be addressed in Pleasanton's Staples Ranch EIR. (Note that the MOU includes both the right of way as noted above, and an emergency vehicle access road to allow emergency vehicles to travel from Stoneridge Drive to Auto Mall Place.) • Requires Livermore to advance $1,000,000 to Pleasanton toward the I-580 EI Charro Interchange project. This funding will be credited against Livermore's share of current and future Interchange improvement costs. As noted, these improvements were approved in 2003 between the cities of Dublin and Pleasanton and the $1 million represents Livermore's fair share for improvement costs. • If Pleasanton is the constructing agency, it will assume the cost of the I-580 North/ East Bound on ramp. If Livermore is the constructing agency, it will assume the cost of these improvements. • Contains language that the agreement does not infringe on the Council's discretionary approval to approve or deny the Staples development. (Recital E) • Establishes a cost sharing formula between Livermore and Pleasanton that will be used to fund future improvements to the EI Charro/ Auto Mall intersection to maintain at least LOS D. (Section 10) Attachment A provides a matrix outlining the transfer of funding in both agreements. Page 5 of 6