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(1) City is receiving assurances of controlled and orderly growth, through a Growth Management Agreement with Property Owner (the "Growth Management Agreement), and quality development of the Project in accordance with the goals and policies set forth in the General Plan, the "Specific Plan" and the "PUD" (as hereinafter defined); (2) City will receive increased tax revenues from tenants and owners of businesses within the Project and from tenants and owners of residences within the Project; and (3) City will benefit and the public interest will be served from: (a) dedication, by Property Owner, in accordance with the terms and conditions of this Agreement, of the Public Parcel; (b) provision of an inclusionary affordable housing program; (c) dedication and improvement of roadway and other infrastructure improvements; (d) dedication and improvement of a five (5) acre neighborhood park; and (e) reduction of impacts to the Pleasanton community, which impacts might otherwise occur by the Project's development in the County. F. Property Owner desires to enter into this Agreement to obtain assurance from City that the Project may be developed, constructed, used and sold and/or leased pursuant to the "Project Approvals" and "Existing Standards" as defined herein, and in accordance with this Agreement. In addition, Property Owner desires to enter into this Agreement to provide for a coordinated and systematic approach to funding the cost of certain public improvements or facilities planned by the City, and to establish the timing and extent of required contributions and dedications by Property Owner for these purposes. G. The entire development plan for the Project has been reviewed extensively and public hearings have been held to allow public comment on all aspects of the Project. Public interest has been protected through ntunerous conditions of approval which require, among other things, that Property Owner construct and/or contribute to the cost of construction of public facilities and incorporate mitigation measures into the Project. H. In order to proceed with construction of the Project, that portion of the Property within the County must be annexed to the City. Prior to such annexation, however, Property Owner requires assurances that it will be able to proceed with the Project as planned and, therefore, receipt of the Initial Project Approvals, guarantee of sewer treatment and disposal capacity and timely action to approve the "Master Map" (as hereinafter defined), among other assurances, are intended and are mutually agreed to be conditions to annexation. I. The following development approvals, entitlements, policies and findings have, following duly noticed public hearings and meetings, been adopted by City in connection with the Project: 35690/849375v14 2 08/25/00