Laserfiche WebLink
• Land purchase price of $1 million per acre (The site is estimated to be 4.7 to 5.3 <br />acres.) <br />• Hendrick, CLC ,Fremont Land and SJAM will contribute to property acquisition <br />and park/detention improvements based on pro rata share of detention basin <br />needs. (Hendricks's contribution is capped.) <br />• The City will pay its share of the property purchase over 10 years from close of <br />escrow. City's financial contributions to park improvements will occur concurrent <br />with Staples Ranch development <br />• The City will process the park design through Parks and Recreation Commission. <br />However, the City agrees to limit the design to accommodate casual park uses <br />including irrigation, drainage, turf suitable for casual play, fencing, concrete <br />walkways, benches, park signage, trash containers, trees, and other plant <br />material. Similar to typical City neighborhood parks, vehicular parking, turf <br />lighting and restroom facilities will not be included in the park. All design, <br />construction and materials will be of high quality subject to City approval and City <br />design standards. <br />• Developers agree to create a funding mechanism for maintenance of detention <br />basin infrastructure <br />A summary of the park budget is as follows: <br />Estimated Park Acauisition and Development c~~ <br />Land Acquisition Costs $5,000,000 <br />Park Improvements $1,500,000 <br />Total Park Costs $6,500,000 <br />Estimated Park Funding <br />Contributions from Developers $3,345,000 <br />Contributions from City $3,155.000 <br />Total Funding $6,500,000 <br />(1) Assumes a 5-acre park. Actual park size may be larger which would adjust costs. <br />At this time, staff intends to work with Alameda County to prepare purchasing document <br />which presented to the Council for review and approval as part of the project approval <br />process. Staff is also finalizing conditions of approval that include the developer <br />financial contributions as outlined above. <br />PROJECT SHCEDULE <br />One purpose of this workshop is to provide the Council with information regarding the <br />development review process and project schedule. As the Council may recall, the MOU <br />sets forth a project review process including the EIR, PUD approval, annexation and <br />final map. The MOU also states that the City will follow a "normal" review process for <br />the development. The review process and schedule included with the MOU is included <br />as Attachment 5. <br />Page 9 of 16 <br />