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GROWTH MANAGEMENT AGREEMENT <br /> THIS GROWTH.MANAGEMENT AGREEMENT is made and entered into on the ../9747 <br /> day of UPI-fin'!be-/ , 2017, between Ponderosa Homes II, Inc. ("Developer"), and the <br /> CITY OF PLEAS7ANTON, a municipal corporation ("City"). <br /> RECITALS: <br /> A Developer owns a legal or equitable interest in real property ("the Subject <br /> Property") 6900 Valley Trails Drive (APN 941-0903-057-00) in the City of Pleasanton. <br /> B. The City has granted to Developer Planned Unit Development approval <br /> (PUD-113) for 36 single-family homes on the Subject Property ("the Project"). <br /> C. Section 17.36.060 of the Pleasanton Municipal Code (Growth Management <br /> Program) establishes annual new residential limits. For 2017, there are 235 growth <br /> management unit allocations. The City has reviewed the growth management unit <br /> allocations established for 2017 and determined that the growth management unit <br /> allocation capacity is available for the Project. <br /> D. City shall enter into growth management agreements with project developers <br /> under the City's Growth Management Ordinance. <br /> E. City and Developer wish to enter into a growth management agreement in <br /> order to achieve the benefits of the Project to City and its residents and in accordance with <br /> the purposes of the City's Growth Management Ordinance. <br /> NOW, THEREFORE, in consideration of the mutual promises expressed herein, <br /> City and Developer hereby agree as follows: <br /> I. GROWTH MANAGEMENT APPROVAL <br /> A City hereby grants growth management approval to the Project for 18 units in <br /> 2018 and 18 units in 2019. Developer may be issued building permit(s) in the year(s) <br /> following 2018 and 2019 until Developer has received building permits for all units. <br /> II. PROJECT CONDITION • <br /> Nothing herein shall reduce any obligation of Developer required as a condition of <br /> any other approvals granted by the City. <br /> 1 <br />