City Council
MEETING DATE: 5/27/2015
TITLE:
Title
Update on the Verano Project
End
FROM:
Pat Milos, Community Development Director
RECOMMENDATION:
Recommendation
This item is provided for information and discussion only.
Body
BACKGROUND:
On January 14, 1998, the City adopted Ordinance No. 471 approving Specific Plan 97-55, dated December 5, 1997, establishing land use and development standards for approximately 303 acres in the Rio Vista area. The original development known as Rio Vista Village was approved for 1,362 homes. Over the years since its approval only 137 homes were ever built. Although certain streets and other improvements were completed in Rio Vista Village, many improvements contemplated by the Specific Plan and the Tract have not been completed including the Club House, streets, alleys, curbs, gutters, sidewalks, streetlights, backbone infrastructure, water and drainage improvements, and "dry utilities"; repairs on certain streets are necessary; the fence along the perimeter of the Specific Plan is in a state of disrepair; and blown sand has accumulated on the property located in the Specific Plan.
Verano Recovery LLC (the property owner) has acquired much of the property in the area that was not foreclosed by the City with the intent to bring the project back up to standard and develop the remaining lots and parcels for new home construction. Verano Recovery plans to acquire the parcels under City control to complete their acquisition of the project site.
DISCUSSION:
City staff has been working with Verano Recovery LLC on a plan to bring the Verano project back up to standards and allow new homes to be constructed in accordance with the original specific plan for the neighborhood. The project will result in the following:
*Restoration of the streets, sidewalks, curbs, gutters, landscape areas, clubhouse and other common areas. The clubhouse will be restored and constructed in two phases.
*Removal of sand, debris, and damaged perimeter fencing on the project property.
*Preparation of the entire site for new home construction.
Plans have already been submitted and are under plan review for new homes to be constructed on thirteen lots. Additional new home construction will occur as lots are improved.
Staff will present an overview of the Verano project for information and discussion.
FISCAL IMPACT:
Transfer of the City-owned lots in Verano will result in revenue of $2,100,501 to the Community Facilities District.
ATTACHMENTS:
Aerial and map of the Verano project
Clubhouse phasing plan
Sample home elevation