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FINANCIAL STATEMENT The project would be expected to generate revenues to cover its cost of services. Increases in property tax would be used to provide ongoing services such as police and fire services, and open space maintenance. The applicant will be required to pay development fees (in-lieu park dedication fees, public facilities fees, traffic fees, and water/sewer connection fees) that will be used to offset the cost of facilities and infrastructure necessitated by the development. BACKGROUND The following section describes relevant information regarding the project site and its General Plan land use designations, surrounding land uses, and the project location. Pleasanton General Plan The Pleasanton General Plan designates the Lund Ranch II property for Low Density Residential (< 2.0 dwelling units per acre) on 58.4 acres allowing for 116 units, Rural Density Residential (1 dwelling unit per 5 acres) on 123 acres allowing for 24 units, and Open Space—Public Health and Safety with a Wildlands Overlay on 13.3 acres, which would not allow any units. Based on these land use designations and acreages, the Lund Ranch property would have a maximum density of approximately 140 units and a total midpoint density of approximately 82 units; 58 units for the Low Density Residential and 24 units for the Rural Density Residential areas of the property. The proposed density for the overall Lund Ranch development is 0.26 dwelling units per acre (50 units/194.7 acres) Subject Property The Lund Ranch II property consists of one parcel of approximately 194.7 acres in area. The Lund Ranch II property was an operating cattle ranch with several buildings including a vacant farmhouse, barn, corrals, and sheds. All existing structures would be removed with the development of the proposed project. The Lund Ranch II property comprises relatively flat areas and rolling hills, swales, and ravines with areas of steep slopes. Several ridges, ridgelines, and knolls are within the northern and southerly portions of the site, primarily aligned in an east to west direction. The ridgelines of the property cross over the property lines onto the adjoining Lin, Spotorno, and Foley properties. The flatter areas of the site, below a 25-percent slope, are located at the northwesterly portion of the site near the property's entrance from Lund Ranch Road. Page 3 of 26