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RESOLUTION NO. 486 <br /> A RESOLUTION OF THE CITY COUNCIL OF THE TOWN OF LOS <br /> ALTOS HILLS, DECLARING TOWN POLICY WITH REGARD TO IN LIEU <br /> PAYMENTS AND SUBSTITUTE CONSTRUCTION <br /> WHEREAS , under some of the ordinances of the Town of Los <br /> Altos Hills builders and developers of land within the Town <br /> are permitted to make payments or perform alternate construc- <br /> tion in lieu of construction of specific required improvements ; <br /> and <br /> WHEREAS, it is deemed in the public interest that the <br /> policy heretofore stated in Resolution No. 358 of this <br /> Council, adopted July 18, 1966, be amended, as hereafter <br /> stated: <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF <br /> THE TOWN OF LOS ALTOS HILLS that it is the policy of the Town that, <br /> unless applied for by the builder or developer and approved by <br /> the Town in accordance with applicable ordinances, no in lieu <br /> payments or substitute construction shall be permitted; and <br /> BE IT FURTHER RESOLVED that in every case where in lieu <br /> payment or substitute construction is permitted, no proposal <br /> for such payment or construction shall be acceptable unless <br /> such payment or construction shall be of such an amount or <br /> magnitude that the Engineer ' s estimate of the cost thereof <br /> shall be at least 110% of the Engineer 's estimate of the cost <br /> of the originally required construction; and <br /> BE IT FURTHER RESOLVED that Resolution No. 298 adopted <br /> by the City Council of the Town of Los Altos Hills, California, <br /> on March 15, 1965 and Resolution No. 358 adopted by said Council <br /> on July 18, 1966, be and the same are hereby rescinded. <br /> LAGORIO & FAISANT <br /> ATTORNEYS AT LAW <br /> 300 THIRD STREET <br /> LOS ALTOS, CALIF. <br /> 948-0200 <br /> A <br />