3_Exhibits E-G - Laserfiche WebLink

construction of Phase 3 may occur in conjunction with Phase 2, including the combination of Buildings 2 and 3 into a single building. E. Developer is already an important employer in the City of Pleasanton. Developer's employees currently patronize local businesses,and with the relocation of a portion of Developer's business to the Property, Developer's employees will be expected to increase patronage to the nearby Stoneridge Mall. This Project is within one half mile of the West Dublin-Pleasanton Bay Area Rapid Transit(BART) station. It is expected that many of Developer's employees will take BART to work, thereby helping to alleviate traffic congestion on City streets and Bay Area freeways. F. CEOA Compliance. On 2021, the City Council adopted a resolution approving an Initial Study/Mitigated Negative Declaration for the Project. G. PUD Development Plan. Following review and recommendation by the City Planning Commission and after a duly noticed public hearing, preparation and consideration of an Initial Study/Mitigated Negative Declaration, the City Council, by Ordinance No. approved the Planned Unit Development(PUD- )Rezoning and Development Plan(the"Project Design Review") for the Project. H. Development Agreement. Following review and recommendation by the City Planning Commission and after a duly noticed public hearing,the City Council,by Ordinance No. ,determined that this Agreement was consistent with the City's General Plan and PUD- , and approved this Agreement. I. The approvals described in Recitals G and H are collectively referred to herein as the "Project Approvals" and applies to the three buildings totaling approximately 381,062 square feet, the 6-story parking garage with 1,168 stalls, surface parking for 90 stalls, and related site improvements such as landscape modifications, stormwater treatment areas, and other related improvements. J. In exchange for the benefits to City described in these recitals, including but not limited to assurance that the Project consistent with the PUD Rezoning Development Plan approval referred to above can proceed, together with the other public benefits that will result from the development of the Project, Developer will receive by this Agreement assurance that it may proceed with the Project in accordance with the"Applicable Law" (defined below), and therefore desires to enter into this Agreement. NOW,THEREFORE,with reference to the foregoing recitals and in consideration of the mutual promises, obligations and covenants herein contained, City and Developer agree as follows: AGREEMENT Article I. Description of Property, Effective Date and Term. Section 1.01 Description of Property. The real property which is the subject of this Agreement is 1701 Springdale Avenue, Pleasanton, CA as described in Exhibit A-1. The site plan for the development of the Project on the Property is shown in Exhibit A-2. 4412928_2 -2-