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RECORDING REQUESTED BY <br />AND WHEN RECORDED MAIL TO: <br />City of Pleasanton <br />Office of the City Clerk <br />P. O. Box 520 <br />Pleasanton, CA 94566 <br />ATTACHMENT 1 <br />RECORDING FEE: 0.00 <br />This document is exempt from recording fees <br />Pursuant to Government Code§ 27383 and <br />Exempt from Documentary Transfer Tax pursuant <br />To Revenue and Taxation Code§ 11922 <br />AFFORDABLE HOUSING AGREEMENT <br />This AFFORDABLE HOUSING AGREEMENT ("Agreement") is made this day of <br />, 2019, by the CITY OF PLEASANTON, a Municipal Corporation <br />("City"), and TL PARTNERS IV, L.P., a California limited partnership ("Developer"). <br />Recitals <br />A. Developer currently owns a legal or equitable interest in land consisting of approximately One <br />Hundred Eleven (I 11) acres in Pleasanton, California, more particularly described in Attachment <br />I attached hereto and incorporated herein by reference (the "Property"). <br />B. For the Property, Developer has obtained City approval (PUD -132) to develop a -unit single- <br />family residential project (collectively the "Project"). The Project includes the provision of <br />Accessory Dwelling Units on scattered lots throughout the Project, which provides additional <br />affordable housing options for Pleasanton residents. <br />C. Execution of this Agreement memorializes the requirements of the City's Inclusionary Zoning <br />Ordinance (Ordinance 1818) for the Project. <br />NOW, THEREFORE, in consideration of the mutual covenants, agreements and <br />conditions contained herein, City and Developer agree as follows: <br />1. Developer shall pay the applicable Lower Income Housing Fee amounts outlined in Table 1 <br />below at the time Developer pulls the building permits for the Project. <br />2. Developer shall construct Accessory Dwelling Units on at least twenty percent (20%) of the <br />lots scattered throughout the Project. In applying and calculating this requirement, any decimal <br />fraction less than or equal to 0.50 may be disregarded, and any decimal fraction greater than 0.50 <br />shall be construed as one Accessory Dwelling Unit. <br />3. In addition to the payment of the Lower Income Housing Fee, and the provision of Accessory <br />Dwelling Units, Developer has offered and the City has agreed for the Developer to pay an <br />Affordable Housing Contribution of varying amounts outlined in Table 1 below. The <br />Page 1 of 3 <br />