HomeMy WebLinkAboutResolutions 89-125 N.C.S. 05/01/1989~~
;, RCS®lllti®I~ N®. s9-125 NC.S.
t ~r: of the City of Petaluma, California
~.~ ACCEPTING THE FINANCING PLAN
FOR THE CORONA/ELY SPECIFIC PLAN
WHEREAS, the City Council has directed that a specific plan be prepared
fora ±675 acre area known as Corona/Ely; and,
WHEREAS, in order to insure that major road, water, sewer and storm
drainage improvements that will allow urban development to occur in the
Specific Plan area are in place before development of the area begins, a
mechanism to finance those improvements must be developed as an
implementation measure of the Corona/Ely Specific Plan; and,
WHEREAS, a financing plan was developed with the participation and
support of interested property owners and developers in the Corona/Ely
area;
NOW THEREFORE BE IT RESOLVED that the City Council hereby accepts
the financing plan for the Corona/Ely Specific Plan as an implementation
measure for the specific plan based on the following findings:
1. The financing plan provides a mechanism by which major backbone
improvements can be constructed with the onset of development of the
area.
2. The financing mechanism will allow major improvements to be put in,
according to the Specific Plan, at one time rather than incrementally.
3. The financing plan calls for the creation of both assessment and
benefit fee districts that will equitably spread the costs among all
properties in the Specific Plan area as development occurs.
4. The financing plan balances the costs of improvements and development
timing with the Residential Growth Management System.
Res. No_.Gl.'.:. /~.~........ N.C.S.
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5. The financing plan identifies and addres"ses the costs that development
of CoronaJEly will have on remote off-site facilities and recommends
ways to .ensure that a .fair share contribution; will be made to. the City
to help resolve those impacts.
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Under the power and authority conferred upon this Council by the Charter of said City.
.City Attorney
AYES: Cavanagh, Tencer, Sobel, Woolsey, Balshaw, Vice .Mayor Davis, May r illigoss.
I hereby certify the foregoing .Resolution was introduced and adopted by the as to
Council of the City of Petaluma at a ,(Regular) (A~~~Q~~~ meeting fo
on the _----.).~ Z------------- day of .............. ~ Y
...........May-• ........................ 19..8.x. b the
.following vote: ..... _:. -. : ........................
NOES: ~ ~
ABSENT: ~
ATTEST.: -- -.....~~"-~~~s~~/ ...... ....... .... ...............:.......... ... .-.. .. -. ......
ity Clerk Mayor .
,Form CA;2.7/81
Council File..._ ...........................:...
Res. No.~.~~..-..~.~,)............