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HomeMy WebLinkAboutAGENDA REPORT 2013 1106 CCSA REG ITEM 10I ITEM 10.1. CITY OF MOORPARK,CALIFORNIA City Council Meeting ACT..112=1,z110,,,_allth/ MOORPARK CITY COUNCIL AGENDA REPORT TO: Honorable City Council FROM: David A. Bobardt, Community Development Director V/. Prepared By: Joseph R. Vacca, Principal Planner - DATE: October 24, 2013 (CC Meeting of 11/6/2013) SUBJECT: Consider Report of 2013 Annual Development Agreement Review, Established in Connection with Moorpark Highlands Specific Plan No. 2, a Master Planned Community, Located East of Walnut Canyon Road and North of Charles Street, on the Application of Pardee Homes (Planning Areas 1, 4, 5 and 6), Richmond American (Planning Areas 2- 3), and Toll Brothers Inc. (Planning Areas 8-9) BACKGROUND: Government Code Section 65864 and City of Moorpark Municipal Code Section 15.40 provide for Development Agreements between the City and property owners in connection with proposed plans of development for specific properties. Development Agreements are designed to strengthen the planning process, to provide developers some certainty in the development process and to assure development in accordance with the terms and conditions of the agreement. On October 6, 1999, the Moorpark City Council adopted Ordinance No. 263 (effective November 5, 1999), approving a Development Agreement between the City of Moorpark and Fountainwood Agoura (Morrison-Fountainwood-Agoura). The agreement was approved in connection with Moorpark Highlands Specific Plan No. 2; a 445-acre, master planned community, located east of Walnut Canyon Road and north of Charles Street. The agreement remains in full force and effect for 20 years from the operative date of the agreement (until November 5, 2019), or until the close of escrow on the initial sale of the last Affordable Housing Unit, whichever occurs last. 212 Honorable City Council November 6, 2013 Page 2 Provisions of the agreement require an annual review and report to the City Council on the status of completion of all aspects of the agreement. The 2012 annual review was completed on December 16, 2012. Pardee Homes is successor in title and current developer of Planning Areas 1 through 7 of Specific Plan No. 2, which includes 322 single- family residential units, (not including the 133 single family units approved in Planning Area No. 7, which is subject to a separate Development Agreement), 102 multi-family residential units, the open space areas, and a public park. Although Toll Brothers, Inc. has purchased and is developing 132 single-family residences within Planning Areas 8 and 9; and Richmond American has purchased and is developing 43 single-family residences within Planning Areas 2 and 3 , Pardee Homes has retained responsibility for requirements of the Development Agreement, and has therefore submitted the necessary application form, related materials, and fee/deposit for the 2013 annual review. The Community Development Director has reviewed the submitted information and the project status and provides the following report. DISCUSSION: Current Project Status The following aspects of Specific Plan No. 2 have been completed: • Planning Area 1, Magnolia Lane, is completed with 95 units constructed, sold and occupied. • Planning Area 4, Shenandoah, is completed with 78 units constructed, sold, and occupied. • Planning Area 5, Waverly Place, is completed with 102 multi-family units constructed, sold, and occupied. • All underground utilities have been constructed. All of the project's public streets have been paved, and the final "lift" of asphalt has been completed, except Ridgecrest Drive. Some pavement markings are pending. • The connection of Spring Road to Walnut Canyon Road, including operational traffic signals and the final "lift" of asphalt, opened in February 2008. • All storm drain and utility construction has been completed, and final street grades have been established and paved in PA 8 and 9. • The off-site Spring Road wall plans were approved by City Council and staff and Pardee acquired rights-of-entry from property owners, and completed construction of the wall and associated landscaping. The City accepted the maintenance responsibility of the landscaping in February, 2008. • Public park improvements have been completed, and the Mammoth Highlands Park opened on July 29, 2009. \\DC11Department Share\Community Development\ADMIN\Agreements\D A\1998-01 Pardee\agenda reports\cc 13_1106_2013Annual Rpt.doc 2 1 3 Honorable City Council November 6, 2013 Page 3 • KB Home constructed the model home complex for Planning Areas 8 and 9, which included three model homes, and a parking area. Toll Brothers purchased the lots in these planning areas and has installed a new sales trailer, and is only marketing two models for selling homes. The following aspects of Specific Plan No. 2 are currently underway: • Planning Area 2, Cherry Hill, has 63 houses constructed and occupied, and the pool/recreation facility constructed and open to residents. There are 31 lots that remain undeveloped at this time. • Planning Area 3, Cherry Hill has 66 houses constructed and occupied, and the pool/recreation facility constructed and open to residents. There are 10 lots that are under construction at this time, (by Richmond American). • Richmond American Homes — CA Division acquired Planning Areas 2 and 3 from Pardee Homes, on March 25, 2013. • Richmond American is currently constructing two model homes and 10 homes for sale. • On July 7, 2010, the City Council approved Pardee Home's applications for a Zoning Ordinance Amendment Case No. 2009-01, to Specific Plan No. 2, Residential Planned Development(RPD) Permit No. 2009-02, Tentative Tract Map No. 5860, and a Development Agreement. The approval amended Specific Plan No. 2, Moorpark Highlands, to change Planning Area No. 7 from a school site to residential land use, Tentative Tract Map No. 5860 allowed the subdivision of the 22 acre property into one-hundred-thirty-three (133) single-family residential lots on property located at the southeast corner of Ridgecrest Drive and Elk Run Loop, and west of Happy Camp Canyon Regional Park, and Residential Planned Development Permit No. 2009-02 allowed development of 133 single family detached homes; and the project included a Development Agreement. • Toll Brothers, Inc. acquired Planning Areas 8 and 9 from KB Home, on November 30, 2009. • Toll Brothers, Inc. submitted an application for Modification No. 1 to RPD 2004-02 and 03 a request for approval to add three new floor plans to the approved architecture and adjust the plotting and unit mix, of 132 Single Family Homes in, Planning Areas 8 and 9 of Moorpark Highlands, (Tract 5045-8). This was approved by the City Council on November 17, 2010. • Toll Brothers, Inc. is currently constructing 20 single family homes within Planning Areas 8 & 9, with 29 homes already completed and occupied. • Pardee completed the public multi-use trails along Spring Road and Ridgecrest Drive and the City has accepted maintenance of those improved multi-use trails. Work is proceeding by Pardee, on completion of the public multi-use trails surrounding the Toll Brothers, Inc. development, within Tract 5045-8; and the City has not yet accepted maintenance of these multi-use trails. S:\Community Development\ADMIN\Agreements\D A\1998-01 Pardee\agenda reports\cc 13_1106_2013Annual Rpt.doc 2 1 4 Honorable City Council November 6, 2013 Page 4 Developer Compliance with Terms of Agreement The developer's responsibilities are included in Section 6 of the Development Agreement and include 32 specific requirements, as summarized below. Compliance with the terms and conditions of the Development Agreement will occur at various stages of the development process. Action by the developer and other clarifying information has been noted. NO. REQUIREMENT STATUS 1. Compliance with Development Agreement, To date the developer is in compliance with project approvals and subsequent approvals. this requirement. 2. Land dedicated to the Moorpark Unified School An agreement with Moorpark Unified School District(MUSD)to be deed restricted by covenant District was reached on November 18, 2005. to limit use of the land to school facilities for In October, 2008, MUSD indicated it was no kindergarten through 12th grade. longer interested in acquiring the site. This action spurred further discussions by Pardee, MUSD and the City. The result was City Council's approval of a Memorandum of Understanding, (MOU), between the City and Pardee Homes, on April 1, 2009. The MOU allowed Pardee Homes the ability to submit an application for residential development of the school site for a maximum of 225 residential units. On September 18, 2009, Pardee Homes filed a Specific Plan Amendment, Development Agreement,Residential Planned Development Permit and Tract Map No. 5860, applications for 133 single family detached housing units on Planning Area 7, the former school site. The City Council approved the project on July 7, 2010. 3. Lands and interests in dedicated lands to be free The developer must provide clear title to any of liens and encumbrances. property required for dedications. Final maps were reviewed for compliance with this requirement prior to recordation. 4. Payment of "Development Fees" of seven These fees are adjusted annually (until paid) thousand three hundred dollars ($7,300.00) per using the Consumer Price Index (CPI) in residential unit and thirty two thousand eight accordance with the agreement. Fees must hundred dollars ($32,800.00) per gross acre of be paid prior to issuance of Zoning Clearance institutional land. for Building Permit. This fee has been paid for all Zoning Clearances for Building Permits which have been issued to date. Cost indexing commenced one year after issuance of first model home building permit,which was issued August 18, 2005. \\DC1\Department Share\Community Development\ADMIN\Agreements\D A\1998-01 Pardee\agenda reports\cc 13_1106_2013Annual Rpt.doc 2 1 5 Honorable City Council November 6, 2013 Page 5 NO. REQUIREMENT STATUS 5. Payment of "Citywide Traffic Fees" of four These fees are adjusted annually (until paid) thousand dollars ($4,000.00) per residential unit using the State Highway Bid Price Index in and eighteen thousand dollars ($18,000.00) per accordance with the agreement. Fees must acre of institutional land. be paid prior to issuance of Zoning Clearance for Building Permit. This fee has been paid for all Zoning Clearances for Building Permits which have been issued to date. 6. Payment of "Community Service Fees" of five These fees are adjusted annually (until paid) hundred dollars ($500) per residential unit and using the Consumer Price Index (CPI) in two thousand two hundred fifty dollars ($2,250) accordance with the agreement. Fees must per gross acre of institutional land. be paid prior to issuance of Zoning Clearance for Building Permit.This fee has been paid for all Zoning Clearances for Building Permits which have been issued to date. 7. Granting of a conservation easement to the City The conservation easement was included on to retain the Open Space lots within Planning the Final Map for Tract No. 5045-1. Areas 10, 11, 14, 15 and 16, allowing only those uses permitted in the Development Regulations of the Specific Plan Open Space Zones. 8. Payment of all outstanding processing costs. This is an ongoing requirement. At this time the developer is current with all processing costs, including submittal of Annual Review Application and deposit for Development Agreement-Annual Review. 9. Dedication of approximately seven (7) acres of Dedication of the park site was included on parkland to the City,including construction of park the Final Map for Tract No. 5045-1. The improvements, as detailed in the agreement. improvements to the park are to be completed prior to occupancy of the 350th dwelling unit. Prior to occupancy of the 500th residential unit, the developer shall also submit a cash deposit of $350,000.00 to fund replacement of park amenities.The park has been completed,and officially opened to the public on July 29, 2009. 10. Construct public streets adjacent to school and Street improvements have been constructed, park sites. except for final pavement layer and bringing manhole covers to grade. Spring Road was completed February, 2008. 11. Construct appropriately sized water line, pumping At the present time, no connection points facilities, and storage facilities for recycled water. exist, or are planned within the vicinity of the project. 12. Dedication of greenbelt, open space areas, The trails, greenbelts and open space areas landscape areas, and trails to the City. Such were included on the Final Maps for No.5045- areas not dedicated to the City shall include a 1, -2, -3, -4 and-5,which have been recorded. conservation easement to the City. Final Maps for Tract No. 5045-6 through 8 have also been approved by City Council and recorded. The trails were also included on the rough grading plan and landscape plans, but the trails have not yet been fully accepted by the City as part of the LMD acceptance and turnover. \\DC1\Department Share\Community Development\ADMIN\Agreements\D A\1998-01 Pardee\agenda reports\cc 13_1106_2013Annual Rpt doc 216 Honorable City Council November 6, 2013 Page 6 NO. REQUIREMENT STATUS 13. Grant a conservation easement to the City for The conservation easements were included Planning Areas 12 and 13 to insure public open on the Final Map for Tract No. 5045-1. space. 14. Prior to recordation of the first final map, provide A Purchase and Sale Agreement in lieu of an a City Council approved Affordable Housing Affordable Housing Agreement has been Implementation and Resale Restriction Plan signed. (Plan)with provisions for: Construction of all the 102 housing units in PA Buyers who meet the criteria for low income 5 is complete. This Planning Area is made up (80% of median income): of the multi-family tri-plex housing units, some Twelve (12) three (3) bedroom and two (2) of which contain affordable housing units; in bath units no less than 1050 square feet in compliance with the affordable housing criteria size. for the overall project. Provision of the Thirteen (13) four (4) bedroom and two (2) required twenty-five affordable units has been bath units at no less than 1425 square feet in satisfied. Three additional affordable units size. were provided to partially satisfy the affordable Prior to occupancy of the first residential unit, housing requirements related to development execute an Affordable Housing Agreement that of Planning Area No. 7. incorporates the Plan. The $5,000.00 payment has been received. Pay City's direct cost, up to five thousand dollars The Payment In-Lieu Fees are adjusted ($5,000.00) for preparation and review of the annually(until paid)using the Consumer Price Implementation and Resale Restriction Plan and Index (CPI) in accordance with the Agreement. agreement. Fees must be paid prior to Payment of In-Lieu Fees of three thousand, five issuance of Zoning Clearance for Building Permit. hundred eighty dollars ($3,580.00) per unit (for each of the dwelling units in the project). The In-Lieu fee has been paid for all Zoning Clearances for Building Permits which have been issued to date. 15. Agreement to Mitigation Measures included in the Community Development staff will provide the Final Environmental Impact Report (EIR) lead in Mitigation Monitoring. Air Quality Fees including payment of "Air Quality Fee" to be (TSM)will be calculated and collected prior to calculated as a condition of the issuance of Zoning Clearance for Building Permit.This fee building permit for each unit. (as calculated using URBEMIS)has been paid for all Zoning Clearances for Building Permit which have been issued to date. 16. Installation of block wall fencing and landscape The plans have been approved by staff and screening along the east side of Spring Road construction was completed in March, 2008. along the rear of the homes on Sir George Court. 17. Submit and gain approval from City Council of a An Implementation Plan was approved by City plan to guarantee the agreements contained in Council on April 20, 2005. Pardee Homes has Section 6. retained responsibility for the items under the plan, except for construction of the residential units in Planning Areas 2,3, 8 and 9. 18. Install traffic signals as determined by the City. Design of five(5)traffic signals were included in a City contract, but paid for by Pardee. All five (5) traffic signals, as approved and permitted by the City, were constructed by Pardee and four became fully operational in February,2008. The one internal traffic signal which is installed and not yet operational is at the intersection of Elk Run Loop and Ridgecrest Drive. \\DC1\Department Share\Community Development\ADMIN\Agreements\D A\1998-01 Pardee\agenda reports\cc 13_1106_2013Annual Rpt.doc 2 1 7 Honorable City Council November 6, 2013 Page 7 19. Waive rights to any density bonus that would To date, the developers have complied with increase the number of dwelling units approved this requirement. per Specific Plan No. 2. 20. Agreement to cast affirmative ballot for formation To date, the developers have complied with of an assessment district for maintenance of this requirement. parkway and median landscaping, street lighting, and parks. 21. Agreement to pay all City capital improvement, To date, the developer has complied with this development and processing fees. requirement. 22. Formation of one (1) or more property owners These requirements have been included in the associations to assume ownership and CC&Rs prepared for the project. The CC&Rs maintenance of open space land, trails,and other were reviewed and approved by the City amenities. Attorney and staff prior to final recordation of the CC&Rs. 23. Provide irrevocable offer of dedication to the City The offer was included on the Final Map for for the future rights-of-way for State Route 23 and Tract No. 5045-1 State Route 118. 24. Provide vehicular access to properties west of These access rights are shown on Final Map Spring Road. Tract No. 5045-1. A grant deed is required for the private access easement. Final design of access improvements are under review by staff. 25. Construct a solid block wall to replace existing A noise study was completed using projected block wall/wrought iron fence along the Spring traffic counts for project build out and the Road and Charles Street frontages (if deemed study concluded that new sound walls would necessary by the City). not be required. The Community Development Director concurred with the recommendations of the report, and determined that sound walls were not required. 26. Remove existing block walls/fences and construct The off-site Spring Road wall plans were a solid decorative block wall along the west side approved by City Council and staff and of Spring Road. Pardee acquired rights-of-entry from property owners, and completed construction of the wall and associated landscaping. The City accepted the maintenance responsibility of the landscaping and wall in February, 2008. 27. Provide irrevocable offer of dedication to the City The offer of dedication for Princeton Avenue for ultimate build out of"Old"Los Angeles Avenue was included on Final Map of Tract No. 5045- (Princeton Avenue) improvements and Spring 1. All Spring Road improvements were Road improvements not required to be constructed by Pardee, and required constructed by the developer. dedications have either been shown on the final map or were acquired by Pardee for the City by separate instrument. \\DC1\Department Share\Community Development\ADMIN\Agreements\D A\1998-01 Pardee\agenda reports\cc 13_1106_2013Annual Rpt.doc 2 1 8 Honorable City Council November 6, 2013 Page 8 28. Acquire the property needed to improve the The developer has acquired the necessary intersection of Charles Street and Spring Road property. Utility construction and street and provide improvements as determined by the construction has been completed, including City. final pavement. The developer has submitted a payment to the City as a buyout of the improvement requirement; and has prepared a grant deed to offer the property on the southwest corner of Spring Road and Charles Street to the City. Staff is reviewing the grant deed for completeness and will present the offer to the City Council for acceptance once the document is reviewed by staff. 29. Provide irrevocable offer of dedication to the City Irrevocable offer of dedication to the City was for right-of-way for the extension of"C" Street. included for recordation of Final Map Tract No. 5045-1. 30. Construct a public trail system as identified in the These improvements were required as part of Specific Plan, including a cash deposit of one Final Map review. All Final Maps have been hundred fifty thousand dollars ($150,000.00) to approved by City Council, and recorded. fund the maintenance of the trail system. Pardee completed the public multi-use trails along Spring Road and Ridgecrest Drive based on a City approved design;and the City has accepted maintenance of those improved multi-use trails. Work is proceeding by Pardee, on completion of the public multi-use trails surrounding the Toll Brothers, Inc. development, within Tract 5045-8 based on a City approved design; and, the City has not yet accepted maintenance of these multi-use trails.The required$150,000.00 maintenance deposit is due prior to occupancy of the 500th unit. 31. Provide irrevocable offer of dedication to the City The dedication was included on the Final Map for Planning Area 17. for Tract No. 5045-1. 32. Payment of one hundred twenty five thousand The required contribution was paid on July 27, dollars ($125,000.00) to satisfy the Final EIR 2006 and deposited in the City Wide Traffic Transportation/Circulation Mitigation Measure 2, Mitigation Fund (2002). and for the developer's share of contribution to intersection improvements at Los Angeles Avenue and Tierra Rejada Road. All requirements of the Development Agreement will be considered in the City's review and approval process for all aspects of the development; including but not limited to, subsequent entitlement requests, public and private improvements, Final Maps, and building permits. City Compliance with Terms of Agreement The City's responsibilities are included in Section 7 of the agreement and include 12 specific provisions, summarized as follows: S:\Community Development'ADMIN\Agreements\D A\1998-01 Pardee\agenda reports\cc 13_11062013Annual Rpt.doc 219 Honorable City Council November 6, 2013 Page 9 NO. REQUIREMENT STATUS 1. Commit necessary time and resources on expedited The RPD's, ZOA's and Modification to the parallel processing for subsequent approvals. Tentative Tract Map were processed concurrently as they were submitted. 2. Commence proceedings to form a Mello-Roos A Community Facilities District has been Community Facilities District, upon receipt of a approved by City Council. landowners' petition by Developer and Developer's payment of a fee, as prescribed in California Government Code Section 53318, City shall commence proceedings to form a Mello-Roos Community Facilities District, ("District")and to incur bonded indebtedness to finance all or portions of the public facilities infrastructure and services that are required by the Specific Plan and that may be provided pursuant to the Mello- Roos Community Facilities Act of 1982, (the "Act"); provided, however, the City Council, in its sole and unfettered discretion, may abandon establishment of the District upon the conclusion of the public hearing required by California Government Code Section 53321 and/or deem it unnecessary to incur bonded indebtedness at the conclusion of the hearing required by California Government Code section 53345. In the event that a District is formed, the special tax levied against any residential lot or residence thereon shall afford the buyer the option to prepay the special tax in full prior to the close of escrow on the initial sale of the developed lot by the builder of the residence. 3. Proceed to acquire, if requested, and at developer's The developer has acquired the necessary sole cost and expense,easements or fee title to land property. not held by the developer, but necessary for construction of required improvements. 4. Authorization for City Manager to sign an early An Early Grading Agreement has been grading agreement. executed, and mass grading has been completed. 5. Agreement to allow concurrent processing of land Concurrent processing has been done. use entitlements for the same property, so long as, deemed complete. 6. Agreement that the land and improvements required Per this Agreement. under subsection 6.9 of the Development Agreement meet the developer's obligation for park land dedication for the designated 570 units. 7. Agreement to allow the developer to receive the Per dedication of public open space area. maximum amount of tax benefit for dedication of public open space in Planning Areas 12 and 13. 8. Agreement to appoint an affordable housing staff David Moe, is the City's housing coordinator. person to oversee the implementation of the affordable housing requirements. 9. Agreement to allow for a variation of five feet (5') Per this Agreement. maximum in grades as shown on the grading exhibit for Specific Plan No. 2, subject to approval of the Community Development Director. \\DC1\Department Share\Community Development\ADMIN\Agreements\D A\1998-01 Pardee\agenda reports\cc 13_1106_2013Annual Rpt doc 220 Honorable City Council November 6, 2013 Page 10 NO. REQUIREMENT STATUS 10. Agreement to limit the payment of the Los Angeles Pardee completed an overpayment of AOC Avenue Area of Contribution (AOC) fee to only the fees for a total of 558 residential units, when first four hundred seventy five(475)residential units the requirement was for a payment for 475 and any institutional uses within the project. The units; and Pardee paid for institutional uses AOC fee shall be the amount in effect at the time of (which include the private pool lot recreation issuance of building permit. areas, and residential project AOC fees were not required to be collected for the 7 acre public park site). Pardee has been refunded for the overpayment. 11. Agreement to facilitate the reimbursement to the Pending construction of potentially developer of costs incurred that may be subject to reimbursable improvements. No request has partial reimbursement from other developers. been submitted to date. 12. Agreement that the developer shall not be required Per this Agreement. to pay the Gabbed Road/Casey Road Area of Contribution Fee referenced in the Final EIR. (Specific Plan No. 2 is not within the boundaries of this AOC). Evaluation of Good Faith Compliance Based on a review of the Development Agreement Annual Review Application and the status of the project, the Community Development Director has determined, on the basis of substantial evidence that Pardee Homes has, to date, complied in good faith with the terms and conditions of the agreement. FISCAL IMPACT None. STAFF RECOMMENDATION: 1. Accept the Community Development Director's report and recommendation that, on the basis of substantial evidence, Pardee Homes has complied in good faith with the terms and conditions of the agreement. 2. Deem the 2013 annual review process complete. ATTACHMENTS 1. Location Map 2. Site Plan 3. 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'4411111"rie 11111 f 11ji�1� n� �__.�..r i swoi Ir111 CC �taENH iIuihii1 i 1111111111'1 _ a=t - _ ii F— L6 minenommul Z2 2 C/3 o N CD / 11 j ti- - J Z x a W Y es r N Q I- Q U rr U g ( _ La h = • /ry(r i' t C1 " as ,‘-4--. z'N0/ z oz -1 b/O3 o 3,8- ` a i r `aci� —I /a� m 'I • / ! —r' L 1;_I 0 ,,N �r ' < cN o n ', I, l--i l ;,vii 0 o= '^ �z• o 0 1 - , 4 `. 3 i Ti 1 73 �M yf� . •LL^ u a u w n to ' .../ ..,s,_ o f ° s•^ TO\jam , , . 1 c1 1j/. _ <ao as oaa ao �Q N o 't - n n •� .. 1svo F y / s T. a w lit a \\ ` Q a o < a:12 � c^ '3�‘ `a ft6tn�� VI - \ - . v - '_-- iice' a&---M\ c aaaa a• maa a € oaN m, .t „ A � , - \t i nu nn '1 \\ 1 .:k.t OZ OZ 41. 111111 o _• a < . _. 7• =ox e • qar 'I Ial � 1 1 I ' =1aa n Aga _ i III ) 1—_— 223 ri Pardee Homes 26897 N.Cherry Willow Drive Santa Clarita,CA 91387 October 3, 2013 Mr. Joe Vacca Principal Planner City of Moorpark Community Development Department 799 Moorpark Avenue Moorpark, CA 93012 RE: Development Agreement Annual Review Dear Joe: Enclosed are the Application, Fee, and submittal materials requested for our Annual Development Agreement Review. As you know, a good portion of the project has been constructed to date. A status update is provided below. • All lots in Tract 5045-2 (Magnolia Lane) have all been released and all homes are occupied. • A portion of the lots in Tracts 5045-3 and 5045-4 (Cherry Hill) have been released and are occupied. The remainder of these tracts were sold to Richmond American who is continuing with the house construction and sales. • Tract 5045-5 (Shenandoah) has been released and all homes are occupied. • Tract 5045-6 (Waverly) has been released and all units are occupied. • The 7-acre park is complete and open to the public. • Tract 5045-8 (Planning Areas 8 and 9) was sold to and continues to be developed by Toll Brothers. These areas are no longer under Pardee ownership. • A Specific Plan Amendment Document, EIR Addendum, Tentative Tract Map 5860, and Development Plan documents were approved by the City on July 7, 2010 via City Council Resolution No. 2010-2936. CC ATTACHMENT 3 224 • The grading and improvement plans for Tract 5860 have been approved by the City and Ventura County Water Works and the final map has been recorded. Completion of the improvements and the start of home construction and sales are currently underway. • Recently improvements have been made to the public multi-use trail within Tract 5045-8, for acceptance by the City. As described above, significant progress has been made toward implementing the remainder of the project. Please find the enclosed exhibits and tables detailing the information summarized above. We feel that we are in good faith compliance with the Development Agreement and look forward to a successful completion of the project. Sincerely, a74.04 Ralph Pistone PARDEE HOMES Vice President, Construction Operations RJP/sls 225