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pLE t1SANTONo CITY COUNCIL AGENDA REPORT <br />1 <br />July 21, 2015 <br />City Attorney <br />TITLE: APPROVE AMENDED AND RESTATED CONSTRUCTION AND COST <br />SHARING AGREEMENT BETWEEN THE CITY, HACIENDA BUSINESS <br />PARK OWNERS ASSOCIATION, VALENCIA AT HACIENDA <br />HOMEOWNERS ASSOCIATION, AND ARCHSTONE HACIENDA LLC <br />REGARDING THE GREENBELT <br />SUMMARY <br />On November 15, 1994, the City entered into a Construction and Cost sharing <br />agreement with the Hacienda Business Park Owners Association, Prudential Insurance <br />Company, and Signature Properties regarding the construction and maintenance of a <br />greenbelt to run through the Prudential and Signature properties. The greenbelt was <br />developed pursuant to that Agreement and Valencia HOA is the successor in interest to <br />the Signature parcels and Archstone is the successor in interest to the Prudential <br />parcels. The parties seek to amend the 1994 agreement to update the agreed upon <br />maintenance responsibilities for the greenbelt now that East Bay Regional Park District <br />has completed the Iron Horse Trail within the greenbelt. <br />RECOMMENDATION <br />Authorize the City Manager to execute the Amended and Restated Construction and <br />Cost Sharing Agreement as shown in the attached exhibit. <br />FINANCIAL STATEMENT <br />There will be no financial impact to the City <br />