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BACKGROUND The Specific Plan and Planned Unit Development (PUD) for the Bernal Property allowed for the development of single-family and multi-family residential units, office and commercial development, and approximately 314 acres of City owned land within the approximately 510 acres located on both sides of I-680, southerly of Bernal Avenue. Bernal Investment Company, LLC (BIC) is the developer for the private development portion of this project. BIC consists of Greenbriar Homes, KB Homes, and the Southbay Development Company. Greenbriar Homes has developed a portion of the central property with a 100-unit apartment complex, which has been completed. KB Homes has developed a 121 single-family residential development, also on the central parcel. This development has been completed and the tract improvements accepted by the City. KB Homes has another development on the east side of the Union Pacific Railroad, Tract 7374, Canyon Oaks, consisting of 128 single-family residential units. The tract improvements for that development are not ready for formal acceptance by the City. The Southbay Development Company owns the parcel proposed for office and commercial development located on the west side of Valley Avenue. This parcel is currently vacant and no development plans for this parcel have been approved. Greenbriar Homes has also developed the residential properties on the west side of 1- 680, Tract 7255, Augustin Knolls, consisting of 232 single family residential units. Tract 7255 is now complete and Greenbriar Homes is requesting formal acceptance by the City for the public improvements within and adjacent to this development. Greenbriar is also requesting that the City accept a small parcel of land (Parcel J) that serves as an emergency vehicle access easement between Royal Creek Court and Deer Creek Court (see Attachment 2.) Finally, Greenbriar is requesting that the City accept $915,000 in lieu of BIC's constructing certain improvements between where the second Bernal Bridge across the Arroyo de la Laguna will be built and I-680 because of the continuing uncertainty when the second bridge will be built. Staff has reviewed this amount and determined that this payment would provide ample funds to construct the roadway improvements in the future. DISCUSSION Tract 7255 Improvements The streets and related improvements within this development are public and will be maintained by the City. These include the traffic circles, street lights, roadway bio- swales, trees and irrigation adjacent to the bio-swales along the east side of West Lagoon Road. The berm along the west side of I-680 adjacent to this development is also ready for acceptance by the City. The five acre public park, Fawn Hills Park, within this development has already been accepted by the City. Page 2 of 4