RES 86430 - Laserfiche WebLink

DEFERRED STREET IMPROVEMENT AGREEMENT THIS AGREEMENT is made and entered into on the day of · 1986, by and between DEL VALLE MANOR, a general partnership, hereinafter referred to as "Subdivider") and the City of Pleasanton, a municipal corporation, (hereinafter referred to as "City"). The City and Subdivider agree as set forth below. I. RECITALS THIS AGREEMENT is made with reference to the following facts and objectives: 1. Subdivider is the owner of real property in the City of Pleasanton described in Exhibit "A" attached to this · agreement and made a part of it by this reference, which consists generally of an approximately 2.6 acre site located on Stanley Boulevard approximatel~ 660 feet! east of Main Street. 2. Subdivider has applied for and received City approval to construct 36 condominium units consisting of 1,415 sq. ft. each on the subject si~e. 3. Stanley Boulevard is essentially a road designed to rural standards which does not meet City street standards but is planned to be improved as properties develop along th~ street. 4. As a condition of design review approval, the Subdivider is required to improve Stanley Boulevard to City standards, said condition being a normal City requirement and agreed to by the Subdivider. 5. Although street improvements are normally done at the time properties are developed, the Subdivider wishes to defer improving the aforesaid road until such time in the future that such improvements are warranted. 6. Because the subject site is not' contiguous to other portions of Stanley Boulevard which have been improved to City Standards· the improvements to be done by Subdivider would be of little value done alone$ thus, approval of the project has been conditioned upon improvements being done at such time in the future as this is deemed necessary by the City Engineer. - 1 -