Parklands Development Agreement

SUBJECT SITE

Approved Specific Plan, Annexation, General Plan Amendments & EIR Approved Affordable Housing as part of DA  173 Market Rate Apartments for 25 years  Condo map affordable requirement  32 Moderate Income & 12 Very Low Income August 4, 2009 Council Actions

City $3 million developer contribution Developer funded Montalvo Annexation application and public outreach Barranca Pedestrian Bridge DA Benefit Comparison Developer 25 Year Term Locked Fee Rate w/cost index adjustments Deferred payment of contribution & fees w w/security

DA Proposal Barranca & Linear Park 50/50 MAD & General Fund Park Maintenance Current Policy Linear Park 50/50 under MAD & General Fund Project Parks 100% MAD Council Direction Cost Sharing of 3 Project Parks requires est. annual spending of approx. $30k

Neighborhood Park 1, Central Park & Rec. Field

Recommended Action  Direct staff to return with an alternative Draft Development Agreement as discussed in the report with the modified deal points AND  Provide staff with specific direction as related to: Park Maintenance for Recreation Field, Neighborhood Park 1, Central Park in addition to the Linear Park and Brown Barranca parcels being split 50/50 between Maintenance Assessment District and General Fund.  City Council appropriates City’s General Fund spending for ongoing maintenance of the three additional parks.

Parklands Specific Plan  499 dwelling units  Single Family Residential 216  Attached Residential Units 113  Courtyard Housing Units 173  Retail or General Commercial 25,000 Square Feet  Community Building (Private) 6,500 Square Feet  Green Space, Open Space, Parks  Acres (Approximate)* * There are approximately 5.84 acres of active recreation, 1.82 acres of passive recreation, and 3.96 acres of sensitive habitat preserve.

Park Typology