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THE CITY OF 12 pLE XSANTONo CITY COUNCIL AGENDA REPORT July 20, 2010 Community Development Planning Division TITLE: PDAM -03, PLEASANTON GATEWAY, L.L.C. (SCOTT TROBBE) CONSIDER AN APPLICATION TO EXTEND THE DEVELOPMENT AGREEMENT BETWEEN THE CITY OF PLEASANTON AND PLEASANTON GATEWAY FOR AN ADDITIONAL SEVEN YEARS REGARDING AN EIGHT BUILDING OFFICE DEVELOPMENT TOTALING 745,000 SQUARE FEET ON AN APPROXIMATELY 39.22 -ACRE SITE AT 6750 BERNAL AVENUE SUMMARY This is the application by Pleasanton Gateway, L.L.C., to extend its Development Agreement with the City of Pleasanton for an additional seven years only for its eight building office development totaling 745,000 square feet on its 39.22 -acre site on the southwest corner of Bernal Avenue and Valley Avenue, between Valley Avenue and 1- 680. This extension conforms to the Pleasanton General Plan and to the Bernal Property Specific Plan, and will enable Pleasanton Gateway to proceed with its office development when the economic climate improves. Environmental review was completed by the Final Environmental Impact Report, San Francisco Water District Property, approved by the City Council on March 1999. Because there is no change to the scope of the project previously approved, no additional environmental review is required. PLANNING COMMISSION ACTION On May 12, 2010, the Planning Commission, on a 5 -0 vote, found that the amendment to the Development Agreement is consistent with the Pleasanton General plan and the Bernal Property Specific Plan, and recommended its approval. RECOMMENDATION Staff recommends the City Council approve an extension to the Development Agreement for seven years and introduce the ordinance approving Case PDAM -03 as set forth in Attachment 1. FINANCIAL STATEMENT The extension to the Development Agreement will have no fiscal impact to the City.