HEINZ, ROBERT AND SHAREN - DEVELOPMENT AGRMNT

08/08/02 10:47 FAX 925 484 8234 VINEYARD AVENUE CORRIDOR SPECIFIC PLAN RELATIONSHIP TO SPECIFIC PLAN CITY - PLEASANTON el 004/022 SHARED INFRASTRUCTURE FINANCING PROGRAM The Vineyard Avenue Corridor Specific Plan was adopted by the Pleasanton City Council on June 1, 1999. The Plan contains an "Infrastructure Financing and Phasing" chapter which provides policy direction for the required timing of the infrastructure improvements and the cost sharing mechanisms to be used for these infrastructure improvements. This Financing Program does not change any of the provisions of the Specific Plan. Rather, it amplifies on the policies found in the Specific Plan by. providing detailed mechanisms for the funancing/construction of the shared infrastructure improvements specified in the Plan. The structure of the Financing Program is based on the planned development of the existing thirty -three parcels within the Specific Plan Area. The benefits and obligations specified in the Specific Plan inure to these pre - existing parcels. This Financing Program continues this practice, referring to each pre- existing parcel as a "Lot" upon which the obligations established in the Financing Programs are based, notwithstanding the number of final parcels which may be created pursuant to the Plan. Modifications to the Specific Plan in the future may have an effect on the shared infrastructure, both as to its components and timing. The financing program contains a basic framework for addressing future modifications. PHASING OF IMPROVEMENTS The Specific Plan sets forth the minimum improvements necessary to be constructed to allow any development to occur in four discrete sub - areas. These improvements and their most updated cost estimates are listed in Table 1 (Parts 1-4). In addition to the minimum improvements, there are other improvements for which development in the Specific Plan Area will share the obligation for constructing. These are also shown in Table 1 (Part 5). For any new development to occur in the Specific Plan Area, the Specific Plan requires that the minimum improvements for that sub -area shall be installed prior to, of with, the new development. This policy shall be implemented by following the programs listed below. 1.