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EXHIBIT B <br /> DRAFT <br /> RECORDING REQUESTED BY <br /> AND WHEN RECORDED RETURN TO: <br /> City of Pleasanton <br /> City Clerk's Office <br /> 123 Main Street <br /> Pleasanton,CA 94566 <br /> Recording Fees Exempt Pursuant to Government Code§ <br /> 27383 <br /> ABOVE SPACE FOR RECORDER'S USE <br /> THIS DEVELOPMENT AGREEMENT("Agreement") is made and entered into <br /> in the City of Pleasanton on this day of , 2013, by and between the City of <br /> Pleasanton, a municipal corporation(the "City"), and Pleasant Partners, LLC, a Delaware <br /> limited liability LLC, (the "Developer"), pursuant to the authority of California <br /> Government Code sections 65864 et seq. <br /> RECITALS <br /> A. To strengthen the public planning process, encourage private participation <br /> in comprehensive planning and reduce the economic risk of development, the Legislature <br /> of the State of California enacted California Government Code sections 65864 et seq. (the <br /> "Development Agreement Statute"), which authorizes City to enter into an agreement <br /> with any person having a legal or equitable interest in real property regarding the <br /> development of such property. <br /> B. Developer has a legal interest in certain real property located in the City of <br /> Pleasanton, County of Alameda, California consisting of approximately 60.897 acres <br /> located at 4400-4600 Rosewood Drive, as more particularly described in D.A Exhibit A-1 <br /> attached hereto, and as diagrammed in DA Exhibit A-2 attached hereto ("California <br /> Center"). California Center is located within the Hacienda Business Park, which <br /> comprises approximately 730 acres within the City ("Hacienda"). <br /> C. In October 2010, the City Council confirmed an 11-member Housing <br /> Element Task Force (Task Force) with the mission to oversee the update of the City's <br /> Housing Element. After nine Task Force meetings, four community workshops, input <br /> from housing experts, and extensive community input, the Task Force recommended a <br /> draft list of sites for rezoning to residential uses. On recommendation of the Planning <br /> Commission, the City Council, at a duly noticed public hearing, rezoned an 8.4-acre <br /> portion of California Center as one of nine rezoned sites, to Planned Unit <br /> Development-High Density Residential (PUD-HDR) to allow high-density residential use <br /> on the site consistent with the Task Force recommendations, the Housing Commission <br /> recommendations from its November 17, 2011 hearing and the direction of the Planning <br /> Commission-City Council Joint Workshop held December 6, 2011. <br /> 1 <br />