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brunt. He referred to Program #2(b) which allowed partial infrastructure installation. He <br />thought the plan was for the road to be ripped up no more than necessary and was concemed <br />that 2(b) negated that understanding. He also had concerns about Program #4, which says <br />the pro rata share of the infrastructure will not be recalculated in the event a land use <br />changes. <br /> <br />There were no further speakers. <br /> <br />Ms. Ayala asked for staff response. <br /> <br /> Mr. Swift said staff tried to address the interest issue by capping the reimbursement <br />at fifteen years. Which means that if Mr. Brozosky waits fifteen years instead of ten to <br />develop, he would not pay any reimbursement at all, either principal or interest. That <br />encourages keeping open space. If Delco and Centex move forward with their <br />developments, there will probably be no reimbursements to anyone. Their pro rata shares <br />more than cover parts 1-4 infrastructure and them will be money left over in the fund to be <br />applied to the water tank, undergrounding, and other things that are in part 5. At that point, <br />no developer has to build infrastmcmre greater than its pro rata share and there would be no <br />reimbursement. <br /> <br /> Ms. Ayala asked if that also takes care of the administrative fee. If parts 1-4 are <br />installed, there is no administrative fee needed. <br /> <br />Mr. Swift said the administrative fee would be charged for only one year. <br /> <br /> Mayor Tarver did not like this financing plan. He asked how far away is the <br />potential for approval of a plan that does the corn infrastructure and could in effect replace <br />this whole plan. <br /> <br /> Mr. Swift said when the corn infrastructure is done, there is remaining infrastructure <br />in pan 5, funds for which will trickle in as time goes by. <br /> <br /> Mayor Tarver asked if pan 5 could be done in a similar fashion, that is find someone <br />to build the corn infrastructure and have a reimbursement agreement. Then this plan isn't <br />needed. <br /> <br /> Mr. Swift believed that by spring of next year construction on all of the pan 1-4 <br />infrastructure would be done. He did not anticipate enough projects to do all of the <br />infrastructure because many of the units would be custom houses and, as you heard from <br />Mr. Brozosky, he would not be paying his share for many years. That money for the rest of <br />the infrastructure will not be collected for a number of years. <br /> <br /> Mayor Tarver inquired about the rights of way and asked if there were any signed <br />agreements. <br /> <br />Pleasanton City Council 21 <br />Minutes <br /> <br />03/07/00 <br /> <br /> <br />