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Exhibit B <br /> RECORDING REQUESTED BY: <br /> CITY OF PLEASANTON <br /> When Recorded, Return to: <br /> Office of the City Clerk <br /> City of Pleasanton <br /> P.O. Box 520 <br /> Pleasanton, CA 94566 <br /> Recording requested Pursuant to <br /> Government Code Sections <br /> No Fee-27383 <br /> THIS DEVELOPMENT AGREEMENT ("Agreement") is made and entered into in the <br /> 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 'Government Code <br /> sections 65864 et seq. <br /> RECITALS <br /> A. To strengthen the public planning process, encourage private participation in <br /> comprehensive planning and reduce the economic risk of development, the Legislature of the <br /> State of California enacted California Government Code sections 65864 et seq. (the <br /> "Development Agreement Statute"), which authorizes City to enter into an agreement with any <br /> person having a legal or equitable interest in real property regarding the development of such <br /> 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 located at <br /> 4400-4600 Rosewood Drive, as more particularly described in DA Exhibit A-1 attached hereto, <br /> and as diagrammed in DA Exhibit A-2 attached hereto ("California Center"). California Center <br /> is located within the Hacienda Business Park, which comprises approximately 730 acres within <br /> the City ("Hacienda"). <br /> C. In October 2010, the City Council confirmed an 11-member Housing Element <br /> Task Force (Task Force) with the mission to oversee the update of the City's Housing Element. <br /> After nine Task Force meetings, four community workshops, input from housing experts, and <br /> extensive community input, the Task Force recommended a draft list of sites for rezoning to <br /> residential uses. On recommendation of the Planning Commission, the City Council, at a duly <br /> noticed public hearing, rezoned an 8.4-acre portion of California Center as one of nine rezoned <br /> sites, to Planned Unit Development-High Density Residential (PUD-HDR) to allow high-density <br /> residential use on the site consistent with the Task Force recommendations, the Housing <br /> Commission recommendations from its November 17, 2011 hearing and the direction of the <br /> Planning Commission-City Council Joint Workshop held December 6, 2011. <br /> D. City has undertaken several actions to meet its Regional Housing Needs <br /> Allocation ("RHNA"), to review and plan for the future constructive reuse of housing and retail <br /> uses on this 8.4 acre site, including, without limitation, the following: <br /> 1 <br />