BREN COMPANY - REIMBURSEMENT AGMT TRACT MAP 6341

.~• ~ '-: • • maximum cost to Developer of $200,000 (Two Hundred Thousand Dollars) for construction of the Stoneridge Drive South Frontage Improvements. If the cost of the Stoneridge Drive South Frontage Improvements exceeds the Developer's maximum contribution of $200,000 (Two Hundred Thousand Dollars) for that Improvement, then $200,000 shall be used as the basis for reimbursement. 2. Ownership by City. Upon acceptance of Improvements by City, ownership of said work shall vest in the City, with Developer having the right to connect or right to use said Improvements in accordance with City regulations, and the right to reimbursement as provided below. 3. Benefit Area. The off-site area which will benefit from the Improvements (the "Benefit Area") shall include APN 946-4550-3-3 and 946-4550-17-4 located in the City of Pleasanton, between Rheem Drive and Oakland Avenue and South of the proposed Stoneridge Drive consisting of approximately 10.7 acres. 4. Reimbursement Principle. a. Each property within the Benefit Area shall be subject to payment of its fair share of the Improvement costs in accordance with principles consistent with reimbursement provisions in the Subdivision Map Act (Government Code section 66485 et sect) . b. The Benefit Area is owned by the Roman Catholic Bishop of Oakland ("Catholic Church"). Pursuant to an agreement between the Catholic Church and the City dated September 6, 1988, the Benefit Area will be exempt from further contribution to public improvements if developed for church related uses (including school uses). However, if all or portions of the Benefit Area are developed for non-church related uses, including church sponsored housing, or if all or portions of the Benefit Area are sold to a third party, then the Benefit Area (or portions thereof) shall be required to share in public improvement costs for Stoneridge Drive and related public improvements as a condition of development approval. 5. Establishment of Fee. a. For the traffic signal at Stoneridge Drive and Rheem Drive, reimbursement shall be calculated as follows: Reimbursement shall be calculated based on the ratio, expressed as a percentage, of the average daily vehicle trips ("ADT") generated by each contributing property within the Benefit Area to the total of said ADT and the total ADT, assumed to be 1120, for Tract 6341. (The assumption is based on each of the 112 units within Tract 6341 generating 10 ADT.) For example, if the contributing property is projected to generate 373 ADT, 2