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64 Mr. Yang explained that this proposed development agreement would allow Prudential to continue its commitment. He stated that Prudential will build a quality product which is well designed and well built. Mr. Yang reiterated that Prudential does not plan on building additional residential development on this 280 acres. He requested Council approval. Mr. Pico explained that the Sub-committee has reviewed and considered all of the issues regarding this application that have been raised. He felt strongly about not allowing further residential development or more high density development in the Business Park. He believed that he could only support this agreement if there was a condition that there would not be any expansion of further residential use within the Park. He added that Prudential should be allowed to be competitive and be given more flexibility in the land use decisions within this 280 acres, not included residential uses. This agreement does not give the residents or Prudential everything each wanted but it does allow the City to have a viable park. It does place some of the restrictions and limitations that the people who were in opposition to this matter were raising. If Prudential cannot see fit to accept the proposed condition regarding no residential then he would sponsor a Council initiative of what Prudential would like to submit to the voters. Mayor Tarver reiterated that the Sub-committee reviewed and considered every issue and condition. He felt that it was in the best interest of the City to parmer with Prudential. He did not believe that there was anything substantial in the agreement that has been changed. He added that more input from the community will be coming through the General Plan review process. Mayor Tarver supported these amendments. Ms. Mohr responded to the previous speakers concerns. She agreed that this community would likely not support high density next to transportation (BART). Prudential, to a large degree, is responsible for the quality of life that is enjoyed in the community. She disagreed that there should be a more in depth study done on this proposal. Ms. Mohr felt that it makes more sense to make sure that the half built park gets finished, than to have capacity reserved for a new proposal to come along which will be half fmished. Ms. Mohr supported these proposed amendments. Ms. Dennis felt that this was a timely modification because the General Plan review process is beginning and the General Plan can be adjusted to minimize the impacts of these modifications. Ms. Scribner believed that this is not such a drastic change. This agreement will bring Prudential in line with the current needs. Jobs are going to be the backbone of the future and she did not want to give up that opportunity. She was disappointed that the amendments were tied in with the refinancing of the bonds. However, she did support the modifications because the City needs to move on with finishing what has been started. 06/01/93 10