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Exhibit A <br /> AFFORDABLE HOUSING AGREEMENT <br /> This AGREEMENT is made this day of , 2016, by the CITY OF <br /> PLEASANTON,a Municipal Corporation("City"), and Ponderosa Homes II,Inc., a California <br /> Corporation("Developer"). <br /> Recitals <br /> A. Developer has an option to purchase land consisting of approximately 9.02 acres in <br /> Pleasanton, California, located generally at 1851 Rose Avenue (the "Property"). <br /> B. For the Property, Developer has obtained City approval (PUD-99)to develop the Property <br /> with nineteen(19) new single-family detached homes in two phases (the "Project"). <br /> C. The City's Inclusionary Zoning Ordinance (IZO) permits a developer, in lieu of <br /> constructing affordable housing units on a project site, to utilize Inclusionary Unit Credits <br /> (IUCs) subject to approval by the City. <br /> D. Developer was approved for 51 IUCs in September 2007 through an amendment to the <br /> original 2003 Affordable Housing Agreement for the Ironwood development, 33 IUCs <br /> being subsequently utilized to meet the affordable housing requirement for the Village at <br /> Ironwood project and ten (10) IUCs being utilized to meet the affordable housing <br /> requirement for the Meridian at Ironwood project. <br /> E. Due to the nature of the Property and Project, Developer has requested to utilize the <br /> remaining eight (8) IUCs to meet the City's affordable housing needs for the current <br /> Project. <br /> NOW, THEREFORE, in consideration of the mutual covenants, agreements and <br /> conditions contained herein, City and Developer agree as follows: <br /> 1. In accordance with Pleasanton Municipal Code Section 17.40.100, City approves the use <br /> of the remaining eight(8)Inclusionary Units Credits(IUCs)to meet the affordable housing <br /> requirement for the current project(PUD-99). <br /> 2. The use of the remaining eight(8) IUCs will result in a balance of zero IUCs for future use <br /> on other projects by the Developer. <br /> THIS AGREEMENT is executed the date and year first above written. <br /> 1 <br />