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JOHNSON DRIVE ECONOMIC DEVELOPMENT ZONE FREQUENTLY ASKED QUESTIONS Updated August 2017 The Johnson Drive Economic Development Zone (JDEDZ) Frequently Asked Questions (FAQs) were last updated in November 2015. A year later, the JDEDZ was on the ballot, and on November 5, 2016, 63 percent of Pleasanton voters expressed support for the City advancing the JDEDZ. New details about the JDEDZ are included throughout the FAQs (below); however, here is a brief summary of key changes taking place in 2017: e Nearon Enterprises still owns property in the JDEDZ, although Costco may have an interest in purchasing approximately 15 acres of the 20 acres currently owned by Nearon; e City staff continued to refine and evaluate the concept-level design of the transportation improvements, which would be necessary to facilitate a wider range of new land uses in the JDEDZ (note that some transportation improvements are necessary without the JDEDZ moving forward); e City staff continued to develop possible financing scenarios to pay for the necessary transportation improvements; and • The proposed financing options will be presented to the City Council and the public at a meeting scheduled for August 29, 2017 (City Council Chambers — 200 Old Bernal Avenue). Under all of the financing options being considered, the City would benefit financially, with a majority of new sales tax and other revenues accruing to the City. Please review the remainder of the FAQs for more specific information and for an overview of the purpose of the JDEDZ, location, background, public outreach, and technical review (environmental and fiscal analysis) that has been conducted to-date. 1. What is the Johnson Drive Economic Development Zone (JDEDZ)? The JDEDZ is a proposal to spur investment in 40 acres of mostly underutilized vacant land situated along Johnson Drive near 1-680 and Stoneridge Drive. The EDZ concept was endorsed by the Pleasanton City Council in April 2014, at which time the City Council also initiated the pursuit of a pilot project EDZ along Johnson Drive. The property has long been used for industrial purposes, serving as a key site for Clorox Company. The goal of the JDEDZ is to: • transform the area into a thriving commercial corridor that capitalizes on its location at the intersection of the 1-580 and 1-680 freeways; and e create opportunities for new uses and services in the community, generating new tax revenue to support City services and programs without increasing anyone's taxes by broadening the City's economic activities. 1