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RESOLUTION NO. 93- 18 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY <br />OF NEWPORT BEACH AUTHORIZING THE COMPLETION OF <br />AN ENGINEERING FEASIBILITY STUDY FOR THE <br />FORMATION OF ASSESSMENT DISTRICTS FOR <br />ACQUISITION AND MAINTENANCE OF OPEN SPACE. <br />WHEREAS, the Newport Conservancy and others have expressed a <br />keen interest in the acquisition of vacant Irvine Company parcels <br />that have been planned for future residential development; and <br />WHEREAS, the Circulation Improvement and Open Space Agreement <br />provides an opportunity for the sale of Newporter North and Upper <br />Castaways parcels to the City or a non - profit entity for open space <br />purposes; and <br />WHEREAS, one option for financing acquisition of Newporter <br />North and /or Upper Castaways would be the establishment of an <br />assessment district under the Landscaping and Lighting Act of 1972; <br />and <br />WHEREAS, the City Council would like additional information <br />regarding the feasibility of using a landscaping and lighting <br />assessment district as the vehicle for the acquisition of one or <br />both of the parcels; and <br />WHEREAS, the preliminary feasibility study would evaluate <br />plans and specifications for possible improvements, estimates of <br />the costs of any proposed improvements, the possible boundaries of <br />an assessment district, options for the spread of assessments, and <br />other matters relevant to feasibility; and <br />• WHEREAS, the Newport Conservancy and the Irvine Company have <br />agreed to pay the full cost of a preliminary feasibility study; and <br />WHEREAS, Willdan Associates is an Orange County based <br />engineering firm with extensive experience in the preparation of <br />1 <br />