HomeMy WebLinkAbout100-91RESOLUTION NO. 100-91
A RESOLUTION D1RBC~G THE FORMATION OF TIlE NORTH EAST
BENEFIT AREA
WHEREAS, Diablo Ranch Development Company and Dividend Development Corporation
have submitted an amended application and reimbursement agreement for formation of
a benefit area within the Town of Danville; and
WHERFAS, the amended application and reimbursement agreement has been found to
conform with Town Ordinance No. 76-85; and
WHEREAS, Town staff has reviewed the amended application and reimbursement
agreement; and
WHEREAS, Staff has recommended modification to the terms and conditions of the
reimbursement agreement per Exhibit "A" (Table) as modified, and Exhibit "B" (Map) as
modified; now therefore, be it
RESOLVED, that a Public Hearing for the formation of the North East Benefit Area shall
be conducted at the June 18, 1991 regular council meeting.
APPROVED by the Town Council of the Town of Danville at a meeting held on May 21,
1991 by the following vote:
AYES: GREENBERG, LANE, RITCHE~, SCHLENDORF, SHIMANSKY
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE
MAYOR
ATTEST:
APPROVED AS TO FORM:
CITY ATTORNEY
Number of Units
Boundary of Benefit Area
Length of the Agreement
Amount of Fee (per unit)
Inflationary increase of Fee per year
Recipient of interest earned on
balance (estimated to be $25,000 over
the life of the agreement)
Total amount of reimbursement (present
value without interest and inflation)
50
See Exhibit
"B" (Map)
15 years
$10,859
CIP retro to
Jan 91
First $12,500
to TOWN
$542,950
EXHIBIT "A" (TABLE)
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