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Ms. Ayala said letters were received from Eric Nostrund, Jack and Cherie Keane, Jody <br />Gerlach, Russ & Betty Moreira, Mr. & Mrs. Steve Jenson, and Mr. & Mrs. John Jordon, <br />supporting the project and asking Council to approve the Finance Plan. <br /> <br /> Ms. Michelotti understood there is a mechanism in place that when the Lund property <br />develops the funding gets distributed back in proportion to the other funding developers. <br /> <br /> Mr. Swift said as soon as the Lund property starts to develop, New Cities pro-rata share <br />would be adjusted. <br /> <br /> Ms. Michelotti asked if staff knew when the Lund property would be ready to participate. <br /> <br /> Mr. Swift said no. <br /> <br /> Ms. Ayala asked staff to comment on A1 Sportono's letter. <br /> <br /> Mr. Swift wanted to clarify that the Sportono's existing homes would not be subject to <br />any fee and that is the case with respect to the City's normal policies and procedures. He said <br />the Sportono's property iS r, ow using Sycamore Road and is not using city water or sewer. <br /> <br /> Mr. Pico asked if there was a guarantee of development density for the Lund or NeW <br />Cities Development Group. <br /> <br /> Mr. Swift said the Finance Plan has been modified by the direction that City Council <br />gave at the February 1998 meeting. It is based on a certain number of lot shares which was <br />based on a certain density. Because it is not clear that all the properties will be allowed a <br />certain level of intensity the Finance Plan is based on the actual number of units that are actually <br />approved on any' piece of property. There is no assumption that any property will be allowed <br />any particular number of lots. <br /> <br /> Mr. Pico asked if densities were allowed above the mid-point level in the General Plan. <br /> <br /> Mr. Swift said the original Financing Plan numbers looked at the numbers that were <br />included in the Specific Plan. The New Cities Development property was twice the density that <br />is shown now. The Lund property had densities at the mid-point. The revised plan reduces the <br />New Cities number of units from 69 to 62 or 55. The Lund property is still shown at the mid- <br />point because it is not included in the Sycamore Specific Plan with respect to density. <br /> <br /> Mr. Pico said if the Financing Plan is approved and then at a later date Council decides <br />the density is too high and reduces the number of units, the land owner will have to decide <br />whether or not it still wants to build. The developer will not be out any monies. <br /> <br />Pleasanton City Council 8 11/03/98 <br />Minutes <br /> <br /> <br />