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ATTACHMENT 5 <br />TERM SHEET FOR JOHNSON DRIVE ECONOMIC DEVELOPMENT ZONE (JDEDZ) <br />TRANSPORTATION IMPROVEMENTS (FINANCING AND CONSTRUCTION) <br />BETWEEN THE CITY OF PLEASANTON AND COSTCO, INC. <br />INTRODUCTION <br />This Term Sheet summarizes negotiations between the City of Pleasanton (City) and <br />Costco Incorporated (Costco), together Parties regarding the financing and construction <br />of the transportation mitigation projects required for the JDEDZ (Project). This Term <br />Sheet has been informed by the public review process for the Project, and is subject to <br />endorsement by the Pleasanton City Council in its sole discretion. <br />After the Pleasanton City Council endorsement, the Parties will continue to negotiate <br />and amplify the terms (including all defined terms) in this Term Sheet and incorporate <br />them into appropriate documents between the City and Costco (collectively, the <br />"Transaction Documents"). The Project is subject to Government Code Section 53083 <br />and a report commensurate with the requirements of this Government Code Section will <br />be prepared at a later date and shall remain available to the public and available on the <br />City's website for the duration of the DDA. <br />OVERVIEW <br />A. The JDEDZ Site and the City's Objectives/Goals for Development <br />The JDEDZ area consists of 12 parcels located at 7106-7315 Johnson Drive <br />and 7035 and 7080 Commerce Circle, comprising approximately 40 acres <br />and currently containing a mixture of land uses, including some office, retail, <br />and institutional uses. However, the predominant uses for the past several <br />decades have been for Tight industrial purposes, and in many instances, the <br />unfortunate bi-product has been an overall lack of investment in the area, the <br />creation of several underutilized properties, aging infrastructure, and a <br />general lack of economic production and aesthetic degradation. <br />The objectives of the proposed JDEDZ and associated General Plan <br />amendment and PUD rezoning are to: <br />1. Provide a consistent framework for the City's review and approval of new <br />uses and projects in the JDEDZ project area. encouraging investment in <br />and adding value to these properties: <br />2. Maximize the benefits of the location of the JDEDZ project area as an infill <br />site located along transportation corridors and near transit by encouraging <br />the development of both locally and regionally accessible uses in the <br />JDEDZ project area: and <br />