Laserfiche WebLink
REIMBURSEMENT AGREEMENT FOR IMPROVEMENT <br />(Nolan Farm Waterline -Tract 7143) <br />THIS AGREEMENT ("Agreement") is entered into at Pleasanton, California, this <br />21st day of May 2002, by and between the City of Pleasanton, a municipal corporation <br />("City") and SummerHill Rose, Ltd. ("Developer"). <br />RECITALS <br />A. Developer owner's property commonly known as Tract 7143 (Nolan Farm) <br />(the "Property"). <br />B. The Developer has obtained approval for a development on 15.2 acres, <br />consisting of 361ots, with a 1.8 acre remainder site with 2 existing homes, located at <br />1015, 1027, and 1500 Rose Avenue, Pleasanton ("Project"). <br />C. In connection with the development of the Property, the Developer has <br />constructed water system enhancement improvements as described in Exhibit A, attached <br />hereto and incorporated herein by this reference ("Improvements"). The Improvements <br />contain supplemental size and length, which will benefit the City's water system. <br />D. Pursuant to the Subdivision Map Act (Government code section 66410, et <br />seq.), the Developer is entitled to reimbursement for that portion of the costs of the <br />Improvements, including amounts attributable to interest and administration costs, in <br />excess of the construction costs required for the Project ("Reimbursable Costs"). <br />NOW, THEREFORE, in exchange for mutual consideration, the receipt of which <br />is hereby acknowledged, the parties agreed as follows: <br />Section 1. Improvements. <br />The constructed improvements, financed by Developer benefit the City. Pursuant <br />to sections 66486, et seq. of the Subdivision Map Act, Developer is entitled to recover the <br />Reimbursable Costs of the Improvements from the City. The construction of the <br />Improvements and the related work installed by Developer is generally the upsizing of an <br />8" waterline to a 16" waterline for 1,900 linear feet within the tract, and the installation of <br />a 16" waterline for SOO linear feet outside of the tract, and is described more particularly <br />in Exhibit A. <br />C:\data\Contracts\NOLAN REIMBURSEMENT AGREEMENT FOR IMPROVEMENT.doc.sm <br />Page 1 of 4 <br />