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ATTACHMENT 3 GROWTH MANAGEMENT AGREEMENT THIS GROWTH MANAGEMENT AGREEMENT is made and entered into on the 15' day of September, 2009, between PONDEROSA HOMES, "Developer and the CITY OF PLEASANTON, a municipal corporation "City"). RECITALS: A. Developer owns real property "the Subject Property in the City of Pleasanton. B. The City has granted to Developer development plan approval for 110 single family homes "the Project C. Developer is seeking growth management approval for the Project under the City's Growth Management Program. D. City may enter into growth management agreements with project developers meeting the requirements for such agreements pursuant to the City's Growth Management Program Ordinance. E. City and Developer wish to enter into a growth management agreement in order to achieve the benefits of the Project to City and its residents and in accordance with the purposes of the City's Growth Management Program Ordinance; and NOW, THEREFORE, in consideration of the mutual promises expressed herein, City and Developer hereby agree as follows: I. GROWTH MANAGEMENT APPROVAL A. Subject to Chapter 17.36 of the Pleasanton Municipal Code, City hereby grants growth management approval to the Project for development according to the following schedule: 2009 2010 2011 2012 2013 3 20 20 33 34 B. Developer will use its best efforts to project actual building starts, on a continuing basis, so the Council can gauge actual construction when considering new approvals. In other words, Developer must keep the City informed of its progress and must apply to reallocate units if building permits for those units are not obtained in the year so allocated. If a Developer fails to apply for reallocation and building permits are not obtained in the year in question, the Developer cannot obtain a building permit until the Developer has reapplied for growth management (under the Modified Program) and has been granted a new year in which to obtain such permit. 1