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E. The nature of the infrastructure requirements to support development in the eastern sector of the Specific Plan azea requires up-front construction of the realignment of Vineyazd Avenue and construction of most of the utilities within it, a level of infrastructure financing typically beyond the ability of the small projects within the Corridor to undertake alone. The City and Property Owner acknowledge that implementation of the Specific Plan is a lazge-scale undertaking occurring over several yeazs. Property Owner is unwilling to incur the required investment or grant the use of its Property for public infrastructure without assurance from the City that all phases of its Project can be developed, used, and sold irr accordance with the approvals granted by the City. F. The downturn in the economy in 2001 has led several developers to postpone planned development within the Corridor, essentially forcing all development in the eastern sector to be delayed. G. The Pleasanton Unified School District (the "District") has planned an elementary school within the Corridor, has purchased property, has negotiated a construction financing program, and seeks to build the school in the short tenn. The school requires much of the road and utility improvements planned within the relocated Vineyard Avenue to be constructed in order for the school construction to proceed. Revision #3, Draft Hahner Development Agreement Page 3 of 17