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THE CITY OF 15 CITY COUNCIL AGENDA REPORT pLEASANTONo May 18, 2010 Community Development Engineering Division TITLE: APPROVAL OF THE PRINCIPLES OF AGREEMENT REGARDING NEVADA STREET UTILITIES /ROAD EXTENSION AND PROCESS FOR CITY CONSIDERATION OF RELATED ZONING, PUD AND DEVELOPMENT AGREEMENT FOR THE IRBY, ZIA, AND KAPLAN PROPERTIES SUMMARY The Nevada Street Sewer and Water Utility Improvement project design was completed in 1998. Since that time, a portion of the sewer main has been constructed within the City's right -of -way. The City is currently negotiating with the property owners Irby, Zia and Kaplan, to obtain utility easements on their properties needed to install the remaining sewer main and water facilities; and to preserve the right -of -way for the anticipated roadway extension of Nevada Street. The City and the property owners recently met and agreed to the Principles set forth in the document for which they seek City Council approval. The Principles of Agreement document outlines some commitments and responsibilities for each of the parties and attempts to set clear expectations regarding future development of the area. In it, the Property Owners have agreed to provide utility easements on their properties for much needed utility upgrades. The document details the process to be followed relative to zoning changes, PUD and development agreements for the parcels. RECOMMENDATION 1. Approve the Principles of Agreement regarding Nevada Street Utilities /Road Extension and Process for City Consideration of Related Zoning, PUD, and Development Agreement for the Irby, Zia, and Kaplan Properties. FINANCIAL STATEMENT There is no immediate financial impact as a result of these principles of agreement. Costs associated with the utility easements and preservation of right -of -way for the extension of Nevada Street will become clearer as development agreements are considered and discussed.