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detached single - family homes, subject to the Conditions of Approval, Exhibit "A" (Attachment #1). FINANCIAL STATEMENT The proposed development would have a negligible financial impact on the City. Increases in property and sales taxes would be used to provide services, such as police, fire, etc., for the increased demand generated by the 14 residences. The applicant would also have to pay development impact fees (e.g., low- income housing fee, public facilities fee, traffic fees, water /sewer connection fees, etc.) that are used to pay for the cost of new City facilities and infrastructure necessitated by development. BACKGROUND The proposed development is located in the Downtown Specific Plan (DTSP) Area. The City Council approved the DTSP in March 2002. The Specific Plan land use designation for the subject site is High Density Residential. In conjunction with the adoption of the DTSP, the General Plan Land Use Designations of several properties were changed to make them consistent with the Downtown Specific Plan Land Use Designations. The General Plan Land Use Designation for the subject site was changed from Medium Density Residential to High Density Residential. This project was reviewed by the Planning Commission at a workshop held on May 21, 2008. For a detailed description of the discussion at this meeting, please see the attached Planning Commission staff report and minutes. The Planning Commission reviewed and recommended approval of the PUD rezoning and development plan at its meeting of September 15, 2010. The application is now before the Council for final decision. SITE DESCRIPTION The project site, comprised of five parcels totaling approximately 1.17 acres, is located on the north side of Stanley Boulevard. The site topography is relatively flat and contains an existing single - family dwelling built in 1908 and a variety of trees, shrubs, and grasses. The property is bordered on the east by a single - family home and the Del Valle Manor townhome development. Window -ology (window covering sales office and warehousing) borders the site to the west. The Union Pacific Railroad borders the site to the north. Single- family homes in the Jensen Tract neighborhood are located on the opposite side of the railroad tracks. Pleasanton Mobile Home Park and single - family homes are located to the south of the subject site, on the other side of Stanley Boulevard. The aerial photograph on the following page shows the project site (outlined in red) and the adjoining land uses. Page 2 of 8