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<br />7.B <br />Page 2 - <br /> <br />ALTERNATIVES <br />Council may choose not to amend the Development Agreement which would be <br />contrary to prior Council direction and the provisions in the existing Agreement. Council <br />may choose to modify the recommended amendment, in which case additional staff <br />work and concurrence from R.C. Peninsula Park, LLC, may be required before final <br />Council action may be taken. <br /> <br />FISCAL IMPACT <br />There is no direct, short-term fiscal impact to the General Fund as a result of this action. <br />However, the developments' long-term fiscal costs and benefits will be reduced, <br />commensurate with the reduction in ownership housing units. <br /> <br /> <br /> <br />s. eter Vorametsanti, PE, PTOE, CFM <br />City Engineer <br /> <br /> <br />peterlngram~ <br />City Manager <br /> <br />(?J <br />Chu Chan , PE, LEED AP <br />Building Infrastructure & T <br />Director <br /> <br />ATTACHMENTS <br />1. Proposed Ordinance <br />2. Proposed Amendment No. 1 to the Development Agreement with R.C. Peninsula <br />Park, LLC <br />3. Development Agreement with R.C. Peninsula Park, LLC, dated February 13, 2008 <br />4. Planning Commission staff report and meeting minutes from July 20, 2010 <br /> <br />RELATED DOCUMENTS IN CITY CLERK'S OFFICE <br />None <br />