RES 86421 - Laserfiche WebLink

City of Pleasanton STAFF REPORT September 2, 1986 HONORABLE CITY COUNCIL Pleasanton, California 'Approval of Improvement Agreement for Construction of Storm Drainage and Parking Facilities over Pleasanton Canal - Hopyard Partners Members of the Council: Background In the spring of 1985, Hopyard Partners approached the Council with a proposal to underground the Pleasanton Canal and build a parking lot at that location for the shared use by the City for Sports Park and Hopyard Shopping Center. At that time, the City entered into an In-Lieu Parking Agreement requiring that parking places be constructed or that Hopyard submit a letter of credit for $88,000 to the City by March 1, 1986. In November 1985, the Council approved PUD-85-10 permitting buildout of the remaining 1.5 acres of the Hopyard Shopping center. Condition 19 of that PUD provides "that there be legal assurances satisfactory to the City Attorney of completion of the additional parking area [approximately 94 spaces] over the [Pleasanton] Canal prior to occupancy of the approved buildings". On August 5, 1986 your City Council approved the land exchanges and easement agreements for this project with the added condition that no further space be leased until construction of the parking lot begins. Zone 7 and the City have executed all the documents, but Hopyard Partners has yet to do so. However, in order to meet the construction schedule, a standard improvement agreement must be approved at this time. Agreement The agreement calls for the construction of twin pipes to replace the existing Pleasanton Canal along a portion of the Hopyard Center frontage. A 92 space parking facility would be constructed above the pipes and would provide for access into Sports Park. The standard requirements for bonding and inspection fees still apply. SR86:382