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4 "70. be established according to Council and staff would be supported; that a zero balance instead of a $3 million end-of-project surplus is prefer- . able; that there is no need to improve Pond A-12 until 1987; that the facilities charge could then be increased to make up any shortfall; wow that all of South Shores development be delayed until there is enough money to implement the project, possibly by 1989; that RSHA favors fees with a development agreement; and that any surplus should be reserved for use in the District only and not for the City as a whole. Mr. Doran • urged Council to act on the matter as soon as possible. Charles A. Evans, Jr., 531 Anchor Circle, suggested turnover of residential property in the District is slower than elsewhere because of the shadow regarding the bond obligation which is over the District. Mr. Evans urged some action be taken to eliminate the bond authorization which exists in order to protect residents from actions of a future Council. Bill Hicks, 582 Seahorse, advised he requested full information on the bond obligation from Anden when he purchased his home; took the information to a lawyer who provided questions for the developer, who told him the bond obligation would be only about $200 per year. Mr. Hicks advised that in spite of his efforts, he could not have anticipated the large District tax. Bob Domenichini, 451 Trident, commented concerning the need for a park for soccer, football and similar sports in Redwood Shores. Mr. Fales advised that salt intrusion problems related to the turf at the Belmont School property appear to have been overcome and the field is being resodded for use this year. Mr. Murray suggested subdistricts could be formed and the one owner-developer could vote to impose bonds, the cost of which could be included in sale prices, thus overcoming the two-thirds vote bond imposition requirement of Proposition 13. Gregg Doran asked that subdistricting be considered for Pond A-12 and asked the cost of the Bartle Wells reports. Mr. Fales advised the cost for the reports was about $8,500. aria City Attorney Schricker said for the record that Proposition 13 specifically excludes assessed valuation taxes, so there is no general obligation bond option such as was suggested by Mr. Murray., Discussion followed and Mr. Warren and Mr. Fales commented and replied to questions regarding what the commitment might be for Phase I-Pond A-12 area of South Shores; the fact that an environmental impact report has been ordered by the Planning Commission on the South Shores project and is being prepared by the City; that there is commitment to the extent that Redwood Shores, Inc.has provided the land use plan and is working with staff in preparation of the EIR, and plans to request a General Plan change and rezoning in 1981; the fact that Redwood Shores, Inc. is also doing a detailed economic, financial and legal in-house analysis to determine the feasibility of proceeding with the project; the fact that various constraints exist with regard to approvals from government agencies, access, etc. for Phase II; and that residential development is intended to be included in Phase II. MOTION: Leipzig/Britschgi to accept the Bartle Wells Revised Report on Proposed GID 1-64 Facilities Charge of January 1981 as work accomplished • according to agreement, but not to endorse the recommendations contained therein; to approve in concept a facilities charge based on a developer agreement without discussion at this time as to the specific amount of the charge and have a report back at a later time to establish that figure; not to consider having any bonds sold during the time that the facilities charge to be set now is in effect; and to include review of the facilities charge annually. CLARIFICATION: Mayor Biagi requested that it be made clear that no bonds will be considered to be used to pick up the anticipated shortfall and that awl • Study Session arr 2/9/81 Page 4 1 �'