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Bernal Avenue Associates/City of Pleasanton Agreement <br />October 14, 1986 <br />Page 3 <br /> <br /> G. On June 17, 1986, the City Council adopted Ordinance <br />No. 1257. A copy of Ordinance No. 1257 is attached hereto as <br />Attachment 2. <br /> <br /> H. City desires Developer to develop the Property in <br />accordance with this Agreement and the PUD because the <br />long-term orderly development of the Project will provide many <br />public benefits to City including, but not limited to, the <br />following: <br /> <br /> 1. Increased Tax Base. The Project will provide <br />the City with increased tax revenues (including real property <br />taxes, sales, business license, and hotel revenues) from <br />tenants and owners of businesses within the Project. These <br />fiscal benefits will make possible improvements in City <br />services, including particularly, police, fire, water and <br />recreational services. <br /> <br /> 2. Public Improvements. Development of the <br />Project will cause the completion of public improvements <br />("Public Improvements") which include the dedication and <br />improvement of a 5-acre recreational and park easement; the <br />improvement of a 1-acre park area and pedestrian space to be <br />maintained by the Project; the purchase and placement of a <br />significant kinetic sculpture on the site; a 50' landscaped <br />area south of the Arroyo; and improving and dedicating a <br />portion of the Arroyo Del Valle to Alameda County Water <br />Conservation District Zone 7. The Public Improvements will <br />bring benefits to existing residents of the City, including an <br /> <br /> <br />