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EXHIBIT B <br /> GROWTH MANAGEMENT AGREEMENT <br /> THIS GROWTH MANAGEMENT AGREEMENT is made and entered into on the <br /> day of , 2012, between BRE PROPERTIES, INC., a Maryland Corporation, <br /> ("Developer"), and the CITY OF PLEASANTON, a municipal corporation ("City"). <br /> RECITALS: <br /> A. Developer owns real property ("the Subject Property" or"BRE Pleasanton Site <br /> 2") in the City of Pleasanton(Exhibit A). <br /> B. The City has granted to Developer development plan approval (PUD -81-30-86D) <br /> for a mixed-use high-density residential/commercial development("the Project"). <br /> C. The Project is being developed consistent with the Hacienda Transit Oriented <br /> (TOD) Standards and Design Guidelines. <br /> D. City may enter into growth management agreements with project developers <br /> under the City's Growth Management Ordinance. <br /> E. City and Developer wish to enter into a growth management agreement in order <br /> to achieve the benefits of the Project to City and its residents and in accordance with the <br /> purposes of the City's Growth Management Ordinance. <br /> NOW, THEREFORE, in consideration of the mutual promises expressed herein, City <br /> and Developer hereby agree as follows: <br /> L GROWTH MANAGEMENT APPROVAL <br /> A. City hereby grants growth management approval to the Project for 251 units, <br /> which includes four live/work units, in 2012. If Developer does not pull building permits for all <br /> 251 units in 2012, Developer may pull building permits in the year or years following 2012 until <br /> Developer has pulled_building permits for all 251 units. <br /> B. Developer will use its best efforts to project the year or years in which it will <br /> obtain building permits as provided in this Agreement and will keep the City informed of the <br /> year or years in which Developer estimates that it will obtain such building permits so that the <br /> City may allocate growth management approvals for other developers in order to accommodate <br /> Developer's development schedule. <br /> II. PROJECT CONDITION <br /> Nothing herein shall reduce any obligation of Developer required as a condition of any <br /> other approvals granted by the City. <br /> 1 <br />