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Mr. Roush said that was accurate with the understanding that within a matter of <br />weeks or months, the City would receive over $1.6 million for the road improvements. <br />On the assumption that cost will go up and Sigrmmre's share is 40%, that sum will go up <br />as well. The assumption is correct the City would get $186,000 today, but it would <br />recaivc an additional $1.6 million within weeks. <br /> <br /> Mr. Pico reiterated the current estimate of the amount lbr which Council would be <br />t~questing security is $1.7 million for the madway alignment and $200,000 for habitat <br />conservation issues, or $2.2 million if you stretch it a little. <br /> <br />Mr. Roush said yes. <br /> <br /> Ms. Ayala asked if the costs for the Vineyard roadway improvements had <br />doubled. <br /> <br /> Mr. Swift said the costs were not doubled. At most, the increase was probably <br />50% over the original estimate. <br /> <br />Ms, Ayala asked how the City obtains 40% of the additional costs from Signature. <br /> <br /> Mr. Roush explained that a deferred improvement agreement would be entered <br />into which would obligate Signature to make the payment in cash at the time them is <br />agreement on the revised estimated cost of improvements. He felt that would be by the <br />end of the year, <br /> <br /> Ms. Michelotti clarified that the funds would be paid at that time, and that would <br />get the project under way so the school can be built. <br /> <br /> Mr. Roush said the funds would be available as seed money to get the project <br />started. <br /> <br /> Mr. Swift indicated the ofiginai estimates for the Vineyard Corridor had a 25% <br />contingency built in. This increased number with the more refined plans still has a 25% <br />comingency. <br /> <br /> Mayor Tarver felt the winery was more hnportant than others think. He <br />remembered it as being a mitigation measure and a value added feature for the <br />development. He wanted to make certain the winery is built. He agreed with collecting <br />the funds for irafire mitigation hi advance, but he wanted to make certain the estimates <br />were accurate enough to cover the costs. He did not agree with the five year limitation on <br />the traffic signal in the Vineyard Corridor. He wanted it instailed, whether it is justified <br />or not, because eventually it will be needed. He wanted some assurance that the District <br />will get the money to build the schools when necessary. <br /> <br /> Ms. Ayala had questions about the cornera of the agreement between Signature <br />and Wente. <br /> <br />Pleasanton City Council 16 10/03/00 <br />Minutes <br /> <br /> <br />