CCMIN091702 - Laserfiche WebLink

yields on the shorter years have come down into the 1% or 2% range and the longer bonds are trading at 5% for a 30-year issue. Ms. Ayala asked with the economy the way it is, is staffworried about anything between now and the first of the year. Mr. Iremonger said staff is always watching the market but there has been a long run of low interest rates since the start of this project and the beginning of the financing scenarios in 1997. Staff continues to use a conservative estimate for the bond projections as a hedge against what might happen in the market. (2) PAP-36, Roger Manning, Appellant Appeal of the Planning Commission's approval of Vesting Tentative Subdivision Map 7372 to subdivide a 345.8 acre site into 34 new buildable lots plus three sites for the existing proper .ty owners; land area to be set aside for wetlands' mitigation~ butterfly habitat, and land to be conveyed to the Ci.ty of Pleasanton for the Municipal Golf Course; and miscellaneous public and private infrastructure improvements including a municipal water tank, sanitary sewer pump station, and storm water detention ponds. (SR 02:227) Brian Swift presented the staff report. Ms. Michelotti clarified that the Alisal route was addressed in the E1R so additional environmental studies would not be necessary. The Specific Plan included a bypass road, but allowed a temporary road. She asked if a route other than the one chosen for the bypass road in the Specific Plan were selected, would the Specific Plan have to be changed. Mr. Swift said yes. Staffbelieves the study the Planning Commission asked for was to investigate the feasibility of the current bypass road, how quickly it could be built, what obstacles exist, what is the cost, etc. along with any other route contemplated. Three or four routes were reviewed with the original Specific Plan and staff is willing to look at any route suggested for feasibility. If Council decides one of the alternative routes would be preferred over the current street in the Specific Plan, then staff would have to go through a new CEQA process, General Plan amendment, and Specific Plan amendment before the new route could be adopted. Ms. Michelotti asked Mr. Swift to show on the map where the bypass road was proposed. Mr. Swift described the project and various proposed roads. Ms. Ayala asked if the City anticipated paying for one-third of the cost of the loop road? Mr. Swift said without knowing the exact cost and alignment of the road, that would be a wild guess. When staffwas reviewing the Summerhill project on the Spotorno property, that project's portion of the road that served the development was approximately two-thirds of the total length of the road and the remainder was the City's responsibility. None of that was ever finalized because that project was not approved. The ultimate cost of the road and how the cost is divided would be determined if the road is on the Spotorno property and how the Spotorno Pleasanton City Council 7 09/17/02 Minutes