RES 83306 - Laserfiche WebLink

(hereinafter "the Improvements") as the Improvements existed on March 22, 1983: Public street improvements within the boundaries of the assessment district and specifically on Gibraltar Drive, Stoneridge Drive east of Hopyard Road, Inglewood Drive, Coronado Land, West Las Positas Boulevard east of Hopyard Road, Willow Road and Hacienda Drive, including street grading and paving, concrete work, sanitary sewers, storm drains, water mains, underground utility vaults, bridges and utility conduits; improvements to flood control channels as these channels are delineated on said parcel map as Lots A, B, D and E; so far as all such improvements have been installed, and only to the extent that such improvements have been installed, before March 22, 1983; together with the acquisition of capacity rights in City utility facilities. The parties acknowledge that certain planned improvements within Hacienda have not yet been constructed and tha~ these unconstructed improvements are not included within the Improvements which are the subject of this agreement. 2. REIMBURSEMENT OF DEVELOPMENT COSTS. The City agrees to reimburse the Developers for the Development Costs for the Improvements described in paragraph 1 in the amount of FORTY-ONE MILLION ONE HUNDRED THOUSAND DOLLARS ($41,100,000.00). This amount shall be allocated and paid to follows: To Prudential: To CPP: be the Developers as $33,000,000.00 $ 8,100,000.00 The parties acknowledge that the Development Costs to reimbursed pursuant to this'Agreement have been ascertained from Developer's records and that the City has not conducted an independent audit of these amounts. 3. REIMBURSEMENT. The City shall reimburse the