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FINANCIAL STATEMENT As required per the Vineyard Avenue Corridor Specific Plan, the applicants will pay a fair share cost of the general public infrastructure improvements the City has or will fund in the Vineyard Avenue Corridor Specific Plan Area or offsite mitigations. BACKGROUND The proposed project is within the 384-acre Vineyard Avenue Corridor Specific Plan area located in the eastern portion of Pleasanton. The Vineyard Avenue Corridor Specific Plan is intended to facilitate a smooth transition between the urban edge of Pleasanton to the west and the Ruby Hill development to the south. The Vineyard Avenue Corridor Specific Plan divides the plan area into three subareas based on land use, topography, and environmental characteristics. This parcel is located in Subarea 1, on the western portion of the plan area, adjacent to several existing single-family residential neighborhoods-Victoria Meadows, Vintage Heights II, Vista Diablo, and Foxbrough Estates. This gently to moderately sloped area is zoned for low-density residential development, several small open space areas, and a community park. The architecture of the new homes is to match the traditional architecture styles of the homes in the nearby neighborhoods. This subarea contains 78 acres (20 percent of the plan area) and consists of residential lots in varying stages of development ranging in size from 0.9 acres to 20 acres. Some of the parcels in the subarea area have already been subdivided and developed with new low-density residential homes, such as the "Vineyard Hills/Clara Lane" development by Delco Builders located at the intersection of Clara Lane and Vineyard Avenue. A PUD development plan for 13 new residential units on the Hatsushi property, immediately to the west of the subject property, was approved by the City Council in June 2006. There is an existing one-story home on the southern portion of the lot, and various accessory structures, such as stables, which are proposed to be removed as part of this development. Surrounding Area New and existing residential developments surrounding the property are described in Table 1 and shown in Figure 1, below. Table 1: Surrounding Uses Direction Development North Jardin property consisting of one single family home on 2.66 acres; 2 additional new homes allowed per the Vineyard Avenue Corridor Specific Plan East Nespor property consisting of one single family home on 2.49 acres; 1 additional new home allowed per the Vineyard Avenue Corridor Specific Plan South "Hatsushi Estates" consisting of 13 approved single-family homes on 20,000 - 35,000-square-foot lots West "Foxbrough Estates" consisting of single family homes on 16,000 sq. ft. - 2.74-acre lots Page 2 of 8