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FINANCIAL STATEMENT <br />Funding of these GHADs will have a minimal financial impact on the City. The City pays <br />annually for two parcels within the Laurel Creek Estates District ($832), one parcel <br />within the Moller Ranch District ($127), and one parcel within the Oak Tree Farm District <br />($341) as the City owns parcels of land within these districts. These parcels contain <br />public facilities, such as water tanks and pump stations. The City does not own a parcel <br />of land within the Lemoine Ranch Estates District. <br />The City's cost to administer the four GHADs is funded by the assessments. <br />BACKGROUND <br />GHAD - Purposes and Description <br />Geologic Hazard Abatement Districts (GHADs) are authorized by California Public <br />Resources Code §26500. Like any special assessment district, a GHAD assesses <br />property owners for a benefit they receive that is special to them. GHADs are formed to <br />prevent, mitigate, abate or control a geologic hazard within the district. A "geologic <br />hazard" is an actual or threatened landslide, land subsidence, soil erosion, or other <br />movement of land. Earthquake damage is exempted from coverage by the GHAD. <br />GHADs are formed when a geotechnical investigation at the time of development <br />reveals areas within the development that are unsuitable for housing or other structures <br />due to evidence of prior or potential earth movement. These undevelopable areas within <br />the project are set aside as open space. The developer is then obligated to construct <br />infrastructure designed to lessen the likelihood that earth movement will occur, or to <br />minimize damage to developed areas should earth movement occur. The infrastructure <br />often includes slope stabilization measures such as drainage ditches, pipe networks, <br />and hillside armoring. The GHAD is the funding mechanism to operate, monitor, <br />maintain, repair, and eventually replace the slope stabilization infrastructure or to <br />address soil movement issues. <br />City Council has been designated as the Board of Directors for each GHAD. The <br />developers, as authorized by the Board of Directors, established initial assessments <br />based upon "Plan of Control" documents created for each GHAD. The Plan of Control <br />documents utilized each development's original construction plans as the basis for the <br />monitoring, maintenance, and repair plan. The developers deposited funding into a <br />reserve as "seed money" for eventual capital replacement needs. After the <br />establishment of each GHAD, annual assessments have been collected from property <br />owners at the same time and in the same manner as property taxes. <br />Existing GHADs within the city of Pleasanton <br />There are currently four GHADs within the city: Laurel Creek Estates (The Preserve, <br />Oak Hill Estates and Kolb Ranch Estates), Moller Ranch, Lemoine Ranch Estates, and <br />Oak Tree Farm. The Oak Hill Estates and the Kolb Ranch Estates developments were <br />both annexed into the Laurel Creek Estates GHAD after the formation of the original <br />district, which included only The Preserve neighborhood. All four of the existing GHADs <br />are located on the west side of Foothill Road in hillside areas where potential geologic <br />Page 2of5 <br />