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Ms. Michelotti asked if the annexation was dealing with all the Happy Valley questions. Ms. Acosta said there was a neighborhood meeting last night. The PUD is on the Council agenda before the annexation so that all the questions can be addressed before the annexation. Mr. Pico indicated the Capital Improvement Program budget is based on a very conservative development scenario of about 178 residential units for the first year and 55 units thereafter. Ms. Acosta explained that it was based on development projects that already have approval and have growth management allocation. Mr. Pico said the school impact fee report was based on 200 units a year. Why is there a difference? Ms. Acosta said there really is not a difference. All the projects and numbers listed in the charts match what the City staff has done. The figure of 200 units was one concept to be used to see what the potential might be for a cash flow analysis. There was a great deal of discussion about what numbers to use. From the City's standpoint, the budget is based on what the City will spend from cash on hand immediately. From the School District's standpoint, many of the allocations will not be spent until some time in the future, and the District was trying to decide whether to declare a cash shortfall. The Committee looked at many scenarios and decided 200 units was a reasonably conservative scenario to use. In November or December that will be reviewed again. She also indicated that over the next few years there are units to be built from the backlog; however, in some cases the fees have already been paid. There will probably be more units than the City estimate of 55 over the next few years, but then the number could drop. Mr. Pico was concemed that there could be a worst case scenario for a shortfall if the actual building permits more closely matched the City's estimate of units. Ms. Acosta indicated that once a shortfall is declared, whether it gets worse or not does not matter. The point is to declare the shortfall and then work with the development community to solve it. Mr. Tarver appreciated the conservative approach staff used to put the budget together. He preferred being able to say in the future that the City has more funds, than to have to deal with less than expected. There are quarterly reports to keep track of the budget. He shared some of Mr. Pico's concerns about not using the same information for the City budget and the School District cash flow report. Pleasanton City Council 2 06/22/99 Minutes